Looking at the S&P 500 Index, the index was down -59.03 -1.02% at 5702.88. Today’s low price extended to 5681.28. The high price is at 5757.73.
On the downside, the bullish 100 hour moving average comes in at 5675.06. The low of 5681.28 thus reached about six points from this moving average. Going forward, it will take a move below the 100 hourly EMA to tilt the technical bias towards the downside.
The 200 hourly moving average comes in at 5617.18 and will be another bearish target in case of further selling and will be necessary to increase the bearish bias from a technical perspective.
The Nasdaq is the worst performer, down -334.10 points or -1.84% at 17854. The 100-hour moving average is at 17857.42. The price is currently just below the moving average. Staying below this level would see traders target the 200 hourly moving average at 17631.93.
Comments are closed, but trackbacks and pingbacks are open.