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S&P and Nasdaq slip after failing to hold technical breakouts

The S&P is down 0.23% on the day, and the Nasdaq is back below its breakout after a failed attempt above 26,788.62.

Reported · Written up by our desk · Indices

Forexlive reports that the broader US stock indices are retracing lower, pulling back from what had been a technically positive week.

The S&P index was down 0.23% on the day while still up 0.30% for the week, after stretching to a new record high but failing to generate additional upside momentum during the current session.

For the Nasdaq, the index fell 0.52% on the day and is down 0.09% for the week, after briefly extending above a key swing area that tops out at 26,788.62.

Forexlive said the lack of sustained follow-through increases focus on the next technical levels for both indices as traders look toward the rest of the day and next week.

Latest closeNasdaq Comp. 27,193.34 ▼1.2%

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