S&P below 200 day MA
The S&P index traded below its 200 day moving average on both Thursday and Friday, but closed above that moving average on both trading days. Today the price gap back below the 200 day moving average at the open. It currently is at 5735. The high price for the day’s at 5705.37.
The low price reached 5672.52. The price has bounced modestly to 5703. That is still down 72 points or -1.29%. The price will need to get back above the 200 day moving average of 5735.00 to take bearish pressure off.
For NASDAQ index, it closed below its 200 day moving average on Tuesday, Thursday and Friday and is moving further away today. The 200-day moving average comes in at 18405. The current price is trading at 17718 down -500 points or -2.8%..
The 38.2% retracement of the move up from the November 2023 low comes in at 17284.34.
NASDAQ technicals below 200 day moving average
