Each the NASDAQ and S&P 500 are breaking decrease, hitting new session lows and crossing beneath their 100-day transferring averages (MA) for the primary time since Could.
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S&P 500: The index is at the moment buying and selling at 6,526.66 (down 0.17%), having slipped beneath its 100-day MA of 6,547.38.
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NASDAQ: The index is beneath vital strain, down 166 factors (-0.75%) to commerce at 21,915, nicely beneath its 100-day MA of twenty-two,054
Technical Outlook:
To shift momentum again in favor of the patrons, value motion should reclaim the 100-day transferring common. So long as costs stay beneath this key threshold, the market bias stays to the draw back.
