US stocks open lower but declines were worse in premarket trading

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US stocks open lower but declines were worse in premarket trading

<p>The major US indices are opening lower, but off their premarket levels implied by the futures. A snapshot of the market three minutes into the opening is showing:</p><ul><li>Dow industrial average -244.64 points or -0.71% at 34150.38</li><li>S&P index -36.88 points or -0.90% at 4039.70</li><li>NASDAQ index -136.69 points or -1.19% at 11345.75</li><li>Russell 2000-23.72 points or -1.26% at 1857.94</li></ul><p>In the US at that market,</p><ul><li>two year yield 4.357% +12.5 basis points</li><li>10 year yield 3.588% +7.8 basis points</li><li>30 year yield 3.637% +3.6 basis points</li></ul><p>Although the declines are less than premarket trading, the technicals are shifted more to the downside on the daily charts. </p><p>Looking at the daily chart of the S&P index, the price is back below its 200 day moving average at 4046.14. That level will be a key barometer for traders going forward:</p><p>For the NASDAQ index, it traded above its 100 day moving average yesterday for the first time since September 12, but is back below that level. The moving average currently comes in at 11501.83. Stay below is more bearish.</p>

                This article was written by Greg Michalowski at forexlive.com.

Source: US stocks open lower but declines were worse in premarket trading

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