100 hour MA at 3092.22
The S&P is sliding lower after the latest South China Morning Post headlines (CLICK HERE).
The index is now down about 10 points at 3098.40. The low price extended to 3096.79.
Keep the 100 hour moving average in mind today. Yesterday, the price fell within sniffing distance of that moving average but found support buyers and moved higher. A move below should solicit more selling momentum and pressure.
Today, the price has traded above its 50 hour moving average at 3106.21 (the high reached 3110.11), but is trading now below that level. So buyers and sellers are battling it out between the 2 moving averages.
