Still above the 100 day MA at 7563.48 (low reached 7588.43 so far)
The Nasdaq index (and other indices) have moved to new session lows. The index is down -2% now. The low reached 7588.43.
Although down sharply, the index remains above its 100 day MA at 7563.15. THe 200 day MA is below that at 7531.27. A move below each would weaken the technical picture.
Back in March, the price fell below the 200 day MA for 2 days, only to rebound and eventually reach the new all time high on April 29. That was coming off the December lows.
If broken, will it be different on the way down? We will see (if it can even be broken).
