The S&P is down testing the 100 day MA at the 1987.94 level. The low has moved below that level in trading today – reaching a low at 1982.26. It is currently at 1987.70 See post from Friday: S&P technical analysis: Cracks in the S&P technical picture, lead to a bigger leak
S& P is breaking below the 100 hour MA
Looking at the daily chart above, the price has moved below the 100 day MA four other times in 2014. The first three moves below the MA line were short lived (<3 days). In October, the fall was more serious and long lasting. At that time, the price traded below for around 14 trading days.
The price on Friday tested the 50 day MA and stalled. That MA will now be eyed as a risk defining level (at 2001.13 today). Stay below and the bears remain in control.