Nasdaq is below the 100 hour MA again
The major US indices are trading to new session lows with the NASDAQ index leading the way. The index is now down 394 points or -2.74% at 14020.60.
Looking at the hourly chart, the price has moved back below its 100 hour moving average at 14113.65. Stay below keeps the bears in control. The low for the NASDAQ reached on January 28. The low on January 27 reached 13236.
For the S&P, it has moved to its new low for the day and is approaching its 100 hour MA at 4487.10. The low for January reached 4222.62. So the index is still a ways away from that low.
