Nasdaq is testing the MA level
The S&P index has cracked below its 100 hour MA at the 2978.96. The low reached to 2973.09. We currently trade at 2974.77.
For the NASDAQ index, it too is selling off and trades near its low for the day at 8135.125. It’s 100 hour moving out is currently comes in at 8136.88. So the price did dip below the level. However we currently trade above that level at 8140 after failing on the first break. A move back below its 100 hour moving average will be needed to solicit more technical selling.