Stocks Challenging Lows Into Close
Wednesday's trading session is following a bearish pattern once again. The stock market rose at the open, but has been unable to hold onto its gains. Going into the close, all of the major averages are trading in negative territory, led by the Nasdaq Composite, which has shed 0.58%. At last check, the S&P was trading down a little more than 3 points, or 0.23%, to 1,3277.54. The Dow Jones Industrial Average was down a little better than 16 points to 12,616.
On a day where it looked like the market could make up some of its recent losses, a close near the lows would certainly be a blow to the bulls. In recent trading sessions, the S&P has sliced through its 20-day and 50-day moving averages and is now nursing a loss of nearly 5% in the month of May.
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