S&P moving back toward start of day lows...
The S&P index and the and the Dow are trading near session lows
The S&P is trading down about -12 points to 2720. The low for the day reached 2717.98. The high reached 2737.
The Dow is trading down -241 points at 24979. The low reached 24976.47.
Technically, the S&P index is trading between its 200 hour MA above (green line at 2759.69) and its 100 hour MA below (at 2710.90). On Friday, the rally stalled just ahead of the 200 hour MA. Today, the lows have stalled ahead of the 100 hour MA (blue line).
A move below the 100 hour MA would turn the trading barometer more bearish. SHort of that break, the buyers stall can lay claim to a little more bullishness. We not only would be above the 100 hour MA but also above the 50% retracement of the corrective move lower at 2702.78.
The Nasdaq is also trading lower by -13.3 points at 7226 but rermains above the low at 7208.19.
