Nasdaq and S&P still above 100 and 200 day MAs. Dow below.
As stocks get hit today, where have the declines taken the indices technically.
Looking at the Dow, it is looking the worst as the index has moved below its 100 and 200 day MAs at 25520 and 25433 respectively. The price is trading at 25425 currently (traded to a low of 25369)
For the S&P, the index is still above the key 2800 level and the 100 and 200 day MAs at 2783.15 and 2776.84 respectively. We currently trade at 2821 off the low at 2814.88.
For the Nasdaq it too is still above its 100 and 200 day MAs at 7563.48 and 7531.43 respectively. The low today reached 7619.87. We currently trade at 7639.76.
The indices are recovering off the lows. That has been a pattern (bend but don't break). The Dow is not so great but you can blame Boeing for a lot of the negativity. You can argue that given all the stories out there the market is doing ok. Nevertheless, it is important to kinow the levels. The 100 and 200 day MAs on the broader indexes are barometers for the market sentiment. So be aware.
