200 day MA on the S&P and 100 day MA on the Nasdaq
Both the S&P index and NASDAQ index ran up toward the daily moving average resistance levels today and stalled ahead of them.
For the S&P index, it's 200 day moving average comes in at 3048.07. The high price reached 3040.48. The move and closed below its 200 day moving average has been the first since June 2019.
For the Nasdaq index, the price fell below the 200 day MA on Friday at 8396.86, but rebounded back above by the close on Friday. That break was the first look below the MA since a quick peek below the MA in October. The last close below its 200 day moving average was back in June 2019. Today, the NASDAQ index has move back up toward its 100 day moving average at 8826.47. The high price today reached 8816.293.
Each of the moves has fallen short of the MA levels. It's not like the price moved up to each to put a good test of the levels. However, if there is to be more upside momentum going forward either today or tomorrow (or this week for that matter), getting above each will be eyed by traders.
