Major US stock indices are trading higher. Major indices on track for lower close this wk.

The major US stock indices are opening higher. The Dow Industrial Average is trading above and below unchanged. The S&P index and the NASDAQ index were higher after sharp declines yesterday.

A snapshot of the market currently shows:

• Dow industrial average -6.91 points were -0.02% at 34063.52
• S&P index +10.27 points or 0.24% at 4340.28
• NASDAQ index +62.74 points or 0.47% at 13286.72

For the trading week, the major indices are on track for declines. For the Dow industrial average, 2 of the last 3 weeks would be lower. The S&P and NASDAQ and are working on their 3rd week in a row lower and the largest declines since March. For the current week:

• Dow industrial average is trading down -1.63% (largest decline since August 14)
• S&P index is trading down -2.47% (largest decline since March 6)
• NASDAQ index is trading down -3.09% (largest decline since March 6)

Yesterday all 3 major indices closed below their 100-day moving averages for the 1st time since January 19, 2023. The 100-day moving averages would need to be broken to tilt the bias back to the upside technically. The 100-day moving averages for each of the major currency pairs currently come in at:

• Dow industrial average 34268.76
• S&P index 4377.10
• NASDAQ index 13470.37