S&P index looks to test its 100 hour moving average at 2471.27
The major stock indices are trading to new session lows, and in the process the S&P index has just moved below its 100 hour moving average at 2471.27. The low price just reached 2468.97. The index is down -58.4 points or -2.31%.
Stay below the 100 hour moving average and we could see further downside momentum. The low for the week traded at 2447.49 on April 1
The NASDAQ index is also making new lows at 7316.50. That’s down 170 points or -2.28%. The Dow industrial average is down 519 points or -2.43% to 20892.50.
PS, the Nasdaq index is now trading below its 100 hour moving average at 7343.42.