Trend line at 2743. 200 hour MA at 2738.54
The S&P is trading back near the lows for the day. That low comes in at 2743.29. We are currently trading at 2745.69, down -28.29 points, down -1.03%.
Technically, the index is testing a trend line on the hourly chart at 2743. Below that, the 200 hour MA comes in at 2738.54.
The price has not been below the 200 hour MA since May 29th when the MA was down at 2689. The MA is higher now (easier target to get below).
Watch those technical levels. A move below is more bearish.
Looking at the daily chart below, the 100 and 50 day MAs come in at 2706-08 area. If there is a more momentum move lower, those MAs will be eyed as a target.
