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S&P moves into negative territory

The S&P index has dipped into negative territory with the price is now down 5 points or -0.08% at 6819.25. The low price reached 6818.42. The NASDAQ index is still higher by 66 points or 0.29% but trading at session lows. The Dow industrial average is down 223 points or -0.47%.The S&P index is still above its 100 day moving average at 6804, while the NASDAQ index is back below its 100 day moving average at 22900.53. The S&P has been up for 7 days in a row.Some losers include:Snowflake (SNOW): -8.21%

Palo Alto Networks (PANW): -7.38%

Zoom Video (ZM): -6.72%

Figma (FIG): -5.97%

Cadence Design (CDNS): -5.38%

Intuit (INTU): -5.24%

CrowdStrike (CRWD): -4.48%

Synopsys (SNPS): -3.89%

Salesforce (CRM): -3.84%Some of the winners today:Nebius NV (NBIS): +6.89%

Super Micro Computer (SMCI): +6.42%

Marvell (MRVL): +6.12%

Broadcom (AVGO): +4.72%

First Solar (FSLR): +3.79%

AMD (AMD): +3.68%

Ciena Corp (CIEN): +3.14%

Barrick Mining (B): +2.46%

Vertiv Holdings (VRT): +2.36%

NVIDIA (NVDA): +2.36%

GE Vernova (GEV): +2.23%
This article was written by Greg Michalowski at investinglive.com.

🔗 Source

💡 DMK Insight

The S&P’s slight dip into negative territory could signal broader market fatigue. With the index now at 6819.25, just above its session low of 6818.42, traders should be cautious. The NASDAQ’s resilience, still up 66 points, suggests tech stocks might be holding up better, but the overall trend is concerning. A drop in the S&P could trigger stop-loss orders, leading to further declines, especially if it breaks below 6818.42. Keep an eye on the Dow, which is down 223 points, as its performance often correlates with investor sentiment across the board. If the S&P can’t regain momentum, we might see a shift in trading strategies, with more traders opting for defensive positions or hedging against potential downturns. Watch for any news catalysts that could sway market sentiment, particularly around earnings reports or economic data releases in the coming days.

📮 Takeaway

Monitor the S&P closely; a break below 6818.42 could lead to increased selling pressure and shift trading strategies.

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