Looks toward its 100 day moving average
S&P index is trading to a new session low of 3173.86. In the process, the pair is moving below the 38.2% retracement at 3175.25 (move up from the August 2019 low).
The index is also moving closer to its rising key 100 day moving average at 3164.64. The price has not traded below its 100 day moving average since October. A move below the 100 day moving average will have traders looking toward the 50% retracement of the same move higher at 3107.82.
The NASDAQ index is also tilting more to the downside but off its low for the day at 9070.65. The current price is trading at 9086, -134 points or -1.46%.
