Stocks moving back lower

Technical Analysis

Author: Greg Michalowski | nasdaq

Nasdaq re-testing 100 hour MA again

The stocks are moving back lower after a rebound off earlier low at the opening. 

The move lower has the Nasdaq back down re-testing its 100 hour MA at 6715.62. 

Last week, the index testing the MA on Thursday and bounced. Today the MA was tested in the first hour of trading and bounce. Now this is the 3rd test over the last 4 trading days.  Will it hold? Will it break and run?

Key test for the Nasdaq composite index.