Another leg down in stocks. Major indices down 3%.

Technical Analysis

Author: Greg Michalowski | sp

S&P cracks below its 100 day moving average.  Dow approaches its September lows

The US stocks have taken another push to the downside. The S&P index has moved below its 100 day moving average at 3306.25.   The fall below the 100 day moving averages the 1st time since May 22.

The Dow industrial average is now down over 100 points or -3.0% at 26639. The low price reached 26583. For the Dow, it is a approaching the September low at 26491. Below that sits the 200 day moving average at 26226.88. The Dow opened below its 100 day moving average at 27251.18

For the NASDAQ index it is currently trading down over 3% or -352 points at 11078.68. The low price reached 11066.00. Technically for its, it fell below its 50 day moving average at 11314.845, but remains above its 100 day moving average at 10871.479.  
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