100 hour moving average currently comes in at 3083.82
The S&P index on the hourly chart, gapped below its 50 hour moving average (white line in the chart below) at 3159.72 and has moved to a low of 3098.67. We currently trade just above that low at 3102.
On the downside, the pair is getting closer to its rising 100 hour moving average at 3083.80. The price has been above that moving average since May 15. A move back below would have traders looking toward the 38.2% retracement of the move up from the May 14 low at 3054.93.
For the NASDAQ index, it has held up better than the S&P in trading today. The next downside target for it comes at its 50 hour moving average at 9796.32. The price did dipped below that level briefly in the 1st hour of trading but has rebounded back above it. A move below that level would target the swing high from June 4 at 9716.14. It's 100 hour moving average currently comes in at 9594.97. The last test of that moving average back on May 27 bounce support buyers.
Finally before the Dow industrial average, its 100 hour moving average currently comes in at 25911.93. The low just extended to 25993.92. It is getting closer to that key test of the moving average.
