Trading above and below unchanged nowThe US stocks opened lower in trading today but has seen a bounce back into the black before edging back lower.
The rally higher in both the S&P index and the Nasdaq index, did find sellers near the 50 hour MA level.
Looking at the S&P index, the 50 hour MA comes in at 2584.99. The high today stalled at 2584.07.
For the Nasdaq, the 50 hour MA comes in at 6752.40. The high today reached 6754.14. It did move above back we are now trading back down at 6744.
Those MA will be eyed as a barometer for bullish above and bearish below now. On the downside, keep an eye on the 100 hour MA. For the S&P the MA comes in at 2577.92. On Thursday and again today, the price fell below those MA levels only to recover.
For the Nasdaq, on Thursday, the price fell right to the 100 hour MA and bounced. Today that MA comes in at 6701.845 currently (blue line).