Stocks hit the skids again. Nasdaq and S&P trade at the lows

Technical Analysis

Author: Greg Michalowski | nasdaq

S&P below the 200 day MA 

The US stocks have hit the skids again with the S&P and Nasdaq trading to new session lows in volatile trading

The S&P in the process has moved below its 200 day MA at 2765.51. The low reached 2749.07. We currently trade at 2756.12. 

The Nasdaq which tested the broken 200 day MA at 7500 at the high for the day (high reached 7493) is now trading at 7368, down -53 points or -0.74%. The low on the run lower reached 7347 (the markets are very fast).  From the high to the low, the Nasdaq has nearly corrected 10% now.  

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