Nasdaq down -2.2%. S&P down -1.8%
The US stocks have reached the opening bell and as expected, it is not pretty.
- The S&P is down -52 points or -1.78%
- The Nasdaq is down -176 points or -2.23%
- The Dow is down -450 points or -1.72%
As mentioned it is not a surprise as trade wars heat up.
Technically, the S&P index has moved back below the 50 day MA at 2862.50. That MA is a barometer for bulls and bears. On Thursday and Friday, it was broken but moved back above (and closed above). It is currently at 2862.57 (closed at 2881.40)
On the downside the 200 day MA is at 2775.99 and the 100 day MA is at 2752.69. Those levels are targets on more weakness.
Stay below the 50% level keeps the sellers in control.