The bulls tried to extend their winning streak to 3-straight session but ran out of steam into the close. The bears were able to push support that served as prior resistance but the damage was minimal.
The Dow declined 21 points, or 0.2%, to close at 13,391 on Thursday. The index traded to a low of 13,358 late in the session but support at 13,350 held. The bears will try to get the action below this level before the weekend while the bulls will try to push 13,500-13,600.
The S&P 500 slipped 3 points, or 0.2%, to settle at 1,459. The index fell to a low of 1,455 but also reached a peak of 1,465. A close above 1,475 would be bullish going into next week while a finish below 1,450 would favor the bears.
The Nasdaq gave back a dozen points, or 0.3%, to end right at 3,100. Tech touched a low of 3,092 but rebounded to kiss 3,118 before fading late in the day. The fight over the next 50 points could determine the next trend.
The Russell 2000 traded up to another all-time high before losing a point to close at 872 while the S&P Volatility Index ($VIX, 14.56, down 0.12) held 15 after trading up to 14.92. (continued…)
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