Nasdaq below 200 hour MA at 7971.12
The US broad indices are trading at new session lows.
- S&P index -52 points or -1.78% to 880.26
- NASDAQ index, -165 points or -2.05% at 7956.37
- The Dow industrial average as trading down -485 points or -1.83% at 25952
the S&P index fell below its 200 hour moving average earlier in the day (currently at 2896.84) and for the most part stayed below.
The NASDAQ index has its 200 hour moving averages 7971.147 currently and is now trading below that MA level. The last time the NASDAQ traded below its 200 hour moving averages back on March 8 (for one day). The 200 hour MA back on March 8th was around the 7400 level. The current price is much higher today at 7956. There is room to roam should the price remain below the MA.