At the ending bell, the Dow industrial average is closing higher. The broader S&P and NASDAQ indices are closing lower. They small-cap Russell 2000 was the worst performer today with a decline of -1.10%.

Below is a snapshot of the closing levels:

• Dow industrial average rose 38.17 points or 0.09% at 42063.36
• S&P index fell -11.09 points or -0.19% at 5702.55
• NASDAQ index fell -65.66 points or -0.36% at 17948.32

The small-cap Russell 2000 fell -24.81 points or -1.10% at 2227.88

For the week:

• Dow industrial average rose 1.62%
• S&P index rose 1.36%
• Nasdaq index rose 1.49%
• Russell 2000 rose 2.08% despite the 1% decline today

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

The shares of Intel are down in 2024 from an end of year closing level of $50.25. The current price is up $1.23 or 5.82% at $22.37 in volatile trading . The low for the year reached $18.51 on September 10.

With Berkshire ridding itself of some of the Apple position and Bank of America and raising cash, would that be an idea too?

I am just thinking out loud. That is not substantiated but it might be interested in if they like the management and the plan.

Technically, the price is back above what was a ceiling at $22.00 again. Earlier this week the price moved higher on the back of Intel’s plans for the foundry (separate from the Intel proprietary chips), plans for infrastructure spending outside the US (put on hold over the near term), and expecations for a slashing of jobs. The stock reached a high of $22.58.

There is room to roam but it has to hold support as this stock has been sold consistently on bounces and there is so much work to do, to give the buyers some confidence.

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

So what happened?

Below is the chart of the price action today. Of not is the low price stalled between the level outlined in the above video from the start of the US trading day. The price spiked up to 1.1175. The current price is at 1.1164.

What next?

The 1.1184 to 1.11897 remains a target on the topside. The 1.1184 level was initiated as a technical level going back to 2021. Other swing highs are going back to August up to 1.11897. The point is that buyers on Wednesday Thursday and Friday stalled near that area. The high price for the year reached in August extended up to the 1.1200 level. That will also be important on the topside.

On the downside, the holding of the 100 hour MA and the swing level has increased the levels importance.

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

• There is a risk that inflation decline could stall
• There is a risk that labor market could soften

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