Technical Analysis

Nasdaq tests 50 hour MA

50 hour MA at 14060

The Nasdaq index has moved back lower after a rebound from opening levels. The price is back down retesting the 50 hour MA at 14060 area.  A move below that MA, should solicit more selling momentum.

For the S&P index, it as already cracked below it’s 50, 100 MAs. Today, the index opened below the 200 hour moving average currently at 4193.18 and has been able to stay mostly below that level in trading today. 

S&P index
As I type stocks have taken another led to the downside. The NASDAQ index is now trading at 14035.33 after cracking below the 50 hour moving average. The S&P index is down 47 points or -1.13% of 4173.99
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