Down -0.62%
The S&P index is trading at low levels for the day.
Looking at the hourly chart, the price has moved below the 100 hour MA and the 50 hour MAs at 2361.68 and 2355.33 respectively today (trade at 2347 now). The index is approaching the 50% of the move up from the March low. That level comes in at 2346.33 (in fact we just moved below that level.
On the daily chart, the 50 day MA at 2340.97 is in the cross hairs of the sellers. That MA was broken on the Monday following the failed Trump healthcare vote, but the price rebounded and closed back above that line. A move back below will once again catch the eye of the market. Traders will need the price stay below.
The US equities are under pressure.
PS USDJPY is trading back at low levels.
PSS The 10 year yield is at 2.339%, -4.8 bp.
