Trendline support and the 38.2% retracement also in play for the NASDAQ
The Nasdaq index has moved down to retest its 50 hour moving average at 13322.35. Also in play is a upward sloping trendline on the hourly chart at 13296 and the rising 100 hour moving average at 13267.215. The 38.2% retracement is also employed 13276.03.
Those levels are key going forward for the shorter-term/intermediate-term technical picture. Stay above and buyers are still in control. Move below and there should be more probing to the downside.
Meanwhile in the S&P index, it is testing its 200 hour moving average at 3763.90. The price did dipped below that level on the last run lower to a new session low of 3758.65. The price however has bounced modestly back above that level.
