The major US stock indices are closing lower for the day and lower for the week. The decline this week is the 5th consecutive weekly decline. The S&P decline is the worst string in 4 years.A look at the closing levels shows:Dow industrial average-793.78 or -1.73% at 45166.33. S&P index fell -108.49 or -1.67% at 6368.67.NASDAQ index fell -459.72 points or -2.15% at 20948.36.For the trading week:Dow industrial average fell -0.90%S&P index fell -2.12%NASDAQ index -3.23%From the recent highs, both the Dow and the NASDAQ index are down over 10%..Dow industrial average is down -10.58% from the January highS&P index is down -9.05%NASDAQ index is down -12.72%As a point of comparison in 2025, the corrective move from the February high to the April/May low saw the: Dow industrial average fell -18.74%S&P index fell -21.35%NASDAQ index fell -26.48%Looking at the weekly chart of the major indices, the Dow industrial average has reached it 38.2% retracement of the move up from the April low at 45202.60, and is also testing a swing area near 45073.63. The price is trading at its lowest level since September 2025.For the S&P index, it remains above the 38.2% retracement at 6174.38 and also a swing level between 6147 and 6212. That area is around 3% to 3.5% away. Another down week could have prices near that level next week.For the NASDAQ index, the price is still above its 38.2% retracement of the move up from the April low comes in at 20, 491.86. That is within a swing area between 20,204 and 20,560 (see yellow area on the chart below). The low of that swing area is about 3.4% away from current levels.Once again, the corrective declines from last year were much greater than what would project if the aforementioned the support levels are reached and hold support. So there is room to roam if the market continues to be pushed by the inability to solve the war in Iran, and higher oil prices continue to pressure the economies and and growth potential. This article was written by Greg Michalowski at investinglive.com.