US stocks whipping around a bit. Crude oil back to unchanged.

Technical Analysis

Author: Greg Michalowski | us-stocks

S&P down is down 4.5. Nasdaq down 16. Off lows

The S&P is trading down about 4.5 points while the Nasdaq is down 16. 

On Friday, the S&P index fell below the 100 day MA and the 38.2% retracement at the 2029.74 and 2021.21 level respectively. Today the high for the S&P reached 2021.94 - just at that broken 38.2% retracement level (see chart below).   A move back above the 38.2% and the 100 day MA at 2029.75 will be needed to turn the tide back higher for the S&P Index. 



WTI Crude oil prices have clawed their way back to unchanged on the day.  It will be curious if this is a positive impact on the stock markets. 
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