S&P trades between the 100 and 200 hour MAs
The S&P index gapped a lower from Friday's closing levels at the open and then have consolidate the declines during the morning session. The high prices from Friday stalled near the falling 200 hour moving average currently at 3907.83. On the downside, the 100 hour moving average is rising and currently trades at 3823.80.
With the price between the 100 hour moving average below and the 200 hour moving average above, traders are taking a neutral stance and awaiting the next shove either to the upside or downside. Be aware.
For now, pick your poison.
