Falls below the 500 and 100 hour MAs
The US stock market has continued to slip in trading. The S&P has moved to a new session low in the current hour - reaching a low of 2798.11. In the process, the index has moved below the 50 hour MA at 2818 (white line) and the 100 hour MA (blue line) at 2808.44. Stay below those MAs is more bearish now.
The low from last week's trading come in at 2795.14 (from June 23rd). The 38.2% comes in at 2788.42. The 200 hour MA comes in at 2774.78. Those would be targets on more downside.
The Nasdaq is trading down -1.43% at 7627, and the weakest of the major indices, but is off the lows at 7604.23.
The Dow is down about -100 points at 25349 (down -0.41%).