NASDAQ index gives up gains. Trades marginally lower

<p>The Dow industrial average and S&amp;P index had already moved into negative territory on the day. The NASDAQ index has now pushed into the red for the 1st time today. The low price just reached 13560.08. That took the index down -2.76 points. Its high water mark for the day was +108.26 points.</p><p>Meanwhile </p><ul><li>The S&amp;P index is down -9.7 points or -0.22% at 4348.50. Its high price took the index up 19.21 points.</li><li>The Dow Industrial Average is down -97 points or -0.29% at 33643. It reached an intraday high of +143.24.</li></ul><p>Technically, the price of the NASDAQ index has now moved back below its 100-day moving average at 13601.32 and its 50 day moving average at 13607.93. Yesterday the price traded above both those moving averages as well. </p><p>It may be that the US CPI data needs to be seen before traders feel confident taking the index price back above those moving averages tilting the buyers more to the upside in the process. The CPI data will be released at 8:30 AM ET tomorrow morning.</p>

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