US stocks open in the red. Seeing a modest bounce

S&P down -5 points. Nasdaq down -18 points

The US major indices are opening in the red with modest gains. There is a modest bounce, but nothing to write home about.

• S&P is down -5 points or -0.20% to 2463.13
• Nasdaq is doen -18 points or -0.28%
• Dow is down -56 points or -0.25%

The Nasdaq index fell below its 50 day MA last week (purple line in the chart below), but it was only good for 2 closes below the level. On Monday the price gapped above the MA line (at 6275.11 today). That level is now support.