Recall that on August 1 (US jobs report). The index moved sharply lower after the US jobs report, and also traded below its 200 hour moving average for the first time since April 24. However, the momentum faded quickly, and when the price gap higher the next trading day, the rally to new all-time highs began. That rally took the price up to 21803.75 on August 12 before rotating to the downside.
Also, the S&P index is testing its 100-hour moving average at 6382.38. The low price is now trading below that level at 6378.00. Stay below the 100-hour moving average would have traders looking toward its 200-hour moving average at 6350.92.
PS. The NASDAQ index has now broken below its 200 hour moving average, trading to a low of 21003.44. The current price is trading at 21023.59 down -291 points or -1.36%
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about nasdaq index continues to take the most heat as stocks continue their retreat was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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