Can it stay below the key MA level.
The NASDAQ index has tumbled below its 200 hour moving average currently at 11168.93. The low price has reached 11107.918.
The last time the price traded below its 200 hour moving average was back on July 24 and before that June 29. Each of those breaks on the hourly chart were quickly reversed with in the hour. There has not been a close below its 200 hour moving average since April 6. That is a long time ago.
Stay below the level now keeps the bears firmly in control. Key test from a technical perspective for the high flying NASDAQ index.
