US stock indices close mixed, but down for the week

<p>The major US stock indices are closing the day with mixed results, but all are down for the week.</p><p>A snapshot of the closing level shows:</p><ul><li>Dow industrial average -366.71 points or -1.12% at 32417.60</li><li>S&amp;P index -19.86 points or -0.48% at 4117.36</li><li>NASDAQ index rose 47.4 points or 0.38% at 12643.00</li></ul><p>For the trading week, the major indices or close lower led by the NASDAQ index:</p><ul><li>Dow industrial average fell -2.14%. The decline comes after -1.61% for last week</li><li>S&amp;P index fell -2.53%. That decline comes after a -2.39% fall last week.</li><li>NASDAQ index fell -2.62%. That decline comes after a -3.16% fall last week.</li></ul><p>Technically the S&amp;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.</p><p>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.</p><p>For the month of October, the major indices are also on track for a negative close:</p><ul><li>Dow industrial average -3.25%</li><li>S&amp;P index -3.98%. </li><li>NASDAQ index -4.36%.</li></ul><p>Each of the major indices are on pace for the 3rd consecutive monthly down close.</p><p>For the trading year:</p><ul><li>Dow industrial average is down -2.20%</li><li>S&amp;P index is up 7.24%</li><li>NASDAQ index is up 20.80%</li></ul>

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