Not much change from Friday's closing level
The major US indices are trading near unchanged levels as stock markets open for the week
- S&P index -2 points or -0.08% at 2704.60
- NASDAQ index +2.5 points or 0.04% at 7266
- Dow industrial average -25 points or -0.11% at 25036
Technically, the S&P index tried to move and close above the 100 day MA (blue line in the chart below) and 61.8% of the move down from the all time highs on Friday. That run higher stalled and a late day sell off took the price below those key levels. The 100 day MA today is at 2709.16. The 61.8% is at 2713.88. Stay below is more bearish. Move above and we could/should see a run toward the 200 day MA at 2741.46.
On more downside 2643 .75 is the 50% midpoint of the move down from the high. Last week, the price traded above and below that level.
