The major US stock indices are closing the day with mixed results, but all are down for the week.

A snapshot of the closing level shows:

  • Dow industrial average -366.71 points or -1.12% at 32417.60
  • S&P index -19.86 points or -0.48% at 4117.36
  • NASDAQ index rose 47.4 points or 0.38% at 12643.00

For the trading week, the major indices or close lower led by the NASDAQ index:

  • Dow industrial average fell -2.14%. The decline comes after -1.61% for last week
  • S&P index fell -2.53%. That decline comes after a -2.39% fall last week.
  • NASDAQ index fell -2.62%. That decline comes after a -3.16% fall last week.

Technically the S&P is closing below its 100 and 50-week moving averages near 4180. It also ran away from its 200-day moving average at 4240.24. All of those levels would need to be broken to tilt the buys back to the upside.

The NASDAQ index also closed below its 200-day moving average at 12784.99 (it is already below its 50-day and 100 day moving average). The good news is the NASDAQ index tested but is closing above its 100 week moving average at 12573.81.

For the month of October, the major indices are also on track for a negative close:

  • Dow industrial average -3.25%
  • S&P index -3.98%.
  • NASDAQ index -4.36%.

Each of the major indices are on pace for the 3rd consecutive monthly down close.

For the trading year:

  • Dow industrial average is down -2.20%
  • S&P index is up 7.24%
  • NASDAQ index is up 20.80%

Source: https://www.forexlive.com/news/us-stock-indices-close-mixed-but-down-for-the-week-20231027/