S&P moves back toward the 100 day MA at 2707.60. Nasdaq down -0.87%
The US major indices are opening with declines.
- The S&P index is trading at 2712, down -18 points or -0.67%.
- The Nasdaq is down -64 points or -0.87%
The Dow is down -158 points or -0.65%
Home Depot is down sharply after EPS beat but revenues were short of expectations.
Looking at the S&P chart below, the 100 day MA was broken last week and moved to the higher level since March yesterday. The move lower today has seen the price move to 2711.38 low. The 100 day MA is at 2707.60 today. If the price goes below the 100 day MA that would take some of the wind out of the bullish sales for the US equities.
