Technical Analysis

Nasdaq and S&P stay beneath 200 hour MA

Gapped beneath the MA degree 

Each the Nasdaq and the S&P indices gapped beneath their 200 hour MAs at 7401.96 and 2744.41 respectively.

On the corrective transfer increased for the Nasdaq immediately, the value moved to excessive of 7395.35. We presently commerce at 7389.47.

Nasdaq correction stayed below its 200 hour MA

For the S&P, the corrective excessive may solely get to 2736.49. The 200 hour MA is at 2744.41. We presently commerce at 2734.23.

S&P index remains well below the 200 hour MA at 2744

These MAs are key for the quick time period bias  Keep beneath is extra bearish. Transfer above and the break decrease immediately loses a few of its shine.  

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