The broader S&P and NASDAQ indices are both testing key swing levels and also near their 100 day moving averages. For the S&P index the last time the price traded below its 100 day moving average is back on May 9. For the NASDAQ index it to is traded below its 100 day moving average on May 9
For the S&P index the 100 day moving average comes in at 6544.66. The low price just extended below that level but is bouncing modestly.
For the NASDAQ index its hundred day moving average comes in at 22040. The price just fell below a floor level at 22204.43. Staying below that level as traders targeting the key 100 day moving average.
Shares of Nvidia are now down over $5 or -2.73% and $181.34. Like the S&P and NASDAQ indices, it is getting closer to its 100 day moving average at $180.08. That move average was testing on Tuesday and found support buyers. A break below it would be the 1st time the price traded below that moving average since May 12.
