Major US stock indices continue to slide with the S&P and NASDAQ index now both trading comfortably below their 200 day moving averages. The S&P index is 200 day moving average of 5730.67. The current prices trading at 5720.5 down -2.08%.
The NASDAQ index has been trading above and below its 200-day moving average over the last four trading days. The moving average comes in at 18392.61. The current prices trading down -526 points or -2.85% at 18024.57 after trading as low as 18008.06.
The 50% midpoint of the move up from the August 2024 low comes in at 17953.44. The low price from Tuesday’s trading reached 17956.60. Those levels are the next target for the tech heavy index.
