The summer doldrums continued on Thursday as the market end mixed and near the flat line.
The Dow fell 3 points, or 0.08%, to finish at 13,165. The blue-chips made 3 attempts to trade past 13,200, which was the high, but resistance at this level has been hard to crack all week. The bulls are still looking to make a charge up to 13,350 but need to clear 13,200 on the close. The bears would like to push 13,000 today but they may have to wait until next week.
The S&P 500 gained a half-point, or 0.04% to settle at 1,402.80. The index fell below the 1,400 level on Wall Street’s lunch break after trading to a high of 1,406 but recovered to finish in positive territory by the close. A move past 1,410 today would be bullish while a close under 1,400 would be short-term bearish.
The Nasdaq added 7 points, or 0.25%, to close at 3,018. Tech held green for much of the session but traded down to 3,007 midday before recovering shortly afterwards. The next level of resistance is at 3,050 while the bears will try to get the action back below 3,000 before the weekend hits. ( continued…)
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