Trades at session highs

The S&P and Nasdaq are staging a little recovery after the swoon in early trading and trades at the day highs.

  • The S&P is down -10.80 now at 2768.92. The low reached 2757.12
  • The Nasdaq is down -17 points at 7729.87. It's low reached 7676.83.

The Dow is down -182 points. It lags the broader indices.

Looking at the hourly chart below, the S&P index fell toward the 100 hour MA (blue line) at 2755.05. Traders came in and leaned against the level on the dip. The 50 hour MA at 2779.29 will be eyed above for bullish/bearish clues. Stay below, and the intermediate bias remains more in the seller's court, but with more work to do to keep that bias going.