Some intraday weakness sends the major indices back toward lows for the day
The major indices are still higher but over the last few minutes there has been a move to the downside.
Looking at the 5 minutes chart of the NASDAQ index,, the index did fall back below its 50 bar moving average, found support against the hundred bar moving average, move back up to test the 50 Bar average, and has most recently dipped below its hundred bar moving average. The 200 bar moving average currently comes in at the 7906.739. That is near the close from yesterday.
The S&P index fell from about 2939.96 to a low of 2927.72. The price has since snapback up to 2936.
The moves may have just been some quirky run. The market is anxious about details from the US China meetings taking place today (and supposedly tomorrow as well).
