100 day moving average currently at 3306.96
The S&P index is currently trading up around 27 points at 3298.08. The high price extended to 3301.33. That is getting closer to its 100 day moving average at 3306.98.
Recall from yesterday the price fell below that moving average level for the 1st time since May 22. A move back above the moving average would tilt the technical bias back to the upside. In September, the price approached the 100 day moving average only to bounce ahead of it. That low reached 3209.45. The low today reached 3259.82 well above that level
Looking at the Dow Jones, it traded to its lowest level since July 31. In the process it took out the swing low from September at 26537.01. However it fell short of its 200 day moving average target at 26214.32. The low price today reached 26290.78 and has since bounced. It is now trading up about 118 points at 26640.
Finally for the NASDAQ index, the low today at 11030.18 fell short of the low from yesterday at 10999.07. It also stalled well ahead of its 100 day moving average at 10882.58.
After the close, big cap names including Facebook, Amazon, Alphabet and Apple will release their earnings. Expectations are high for decent gains from each.
