Stocks take a turn to the downside. New lows be made in the major indices.

<p>The major US stock indices are trading to new session lows. The NASDAQ index is leading the way with a decline of -0.82%. The S&amp;P is down -0.71% and the Dow Industrial Average is down -0.55%.</p><p>The NASDAQ index tried to get back above its 100-hour moving average currently at 13389.92 in trading today, but momentum cannot be sustained. Staying mostly below the 100-hour moving average kept the sellers in play. </p><p>Staying on the hourly chart, the next targets come at 13181, 13132 and 13087</p><p>Yields are not helping as usual:</p><ul><li>2-year yield 5.177% -4.0 basis points</li><li>5-year yield 4.964%, +4.0 basis points</li><li>10-year yield 4.987%, +8.6 basis points</li><li>30-year yield 5.099%, +10.6 basis points</li></ul><p>The 2 – 20year spread continues its move toward a flat curve. It is currently at -19.2 basis points. That is the widest (even though it's still negative) since September 2022.</p><p>The 2 – 30 year spread is -7.8 basis points</p>

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