Dow industrial average also falls below its 100 day moving average. For the Nasdaq it fell below that MA yesterday.
Technically, the fall in the major stock indices today are seeing some technical breaks.
Both the S&P index and the NASDAQ index has now moved below their 100 day moving averages.
For the S&P index the 100 day moving average currently comes in at 2925.17. The high price today could only reached 2924.78. We currently trade at 2901.93.
For the Dow industrial average, the 100 day moving average comes in at 26402.41. The current prices at 26226. The low reached 26212.
For the NASDAQ composite index, it fell and closed below its 100 day moving average yesterday. It is getting closer to its 200 day moving average at 7708.20. The low price today as reached 7789.37. We currently trade down 103 points at 7805. That is down -1.3% on the day.
The price and the NASDAQ fell below its 200 day moving average in early June and also in March. However,each dip was short lived (only a few days) before rebounding. It was last October that the price fell below its 200 day moving average and the indices remained bearish into the end of the year. Not saying that will the case this year (I would expect buyers against the 200 day MA on a test), but it will be in the back of traders minds that a year ago, gains were erased.