S&P less impacted
The Nasdaq is the worst perfoming of the major indices. As I type, the index is now down -0.76% while the S&P index is down -0.28% and the Dow is down -0.16%. Netflix continues to be a drag for Nasdaq sentiment. Amazon is also lower and breaking below its 200 day MA as well (it is at $1775.62 and the price is at $1761 currently).
Technically for Nasdaq, the index is now trading below its 50 day MA at 8053.059. The current price is at 8051.70. The low reached 8042.10. Moving below that MA is a tilt to the bear side. On the downside the 100 day MA is at 7964.55 and would be a more bearish signal for the index. The index has been trading above and below the 100 day MA (blue line) over the last few months. A lower trend line comes in on the daily at 7889 currently.
The high in the Nasdaq last week stalled near a topside trend line. That kept the market in check. Admittedly, the price has been up and down since the test, but today's break is a tilt to the downside.
