Trendline support and the 38.2% retracement also in play for the NASDAQ

The Nasdaq index has moved down to retest its 50 hour moving average at 13322.35. Also in play is a upward sloping trendline on the hourly chart at 13296 and the rising 100 hour moving average at 13267.215. The 38.2% retracement is also employed 13276.03.

Those levels are key going forward for the shorter-term/intermediate-term technical picture. Stay above and buyers are still in control. Move below and there should be more probing to the downside.

Meanwhile in the S&P index, it is testing its 200 hour moving average at 3763.90. The price did dipped below that level on the last run lower to a new session low of 3758.65. The price however has bounced modestly back above that level.

S&P index is testing its 200 hour moving average

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