100 hour moving average currently at 9584.96.
The NASDAQ index moved to a new low price of 9591.724. That got the pair closer to its 100 hour moving average at 9584.96. Should that level the broken later today, should solicit more selling from a technical perspective. However the price has bounced and the index currently trade at 9616.05. Still down 134 points but well off the lower levels
The price of the NASDAQ index did fall below the 100 hour moving average back on January 27 and traded below it for the most part until February 3. On January 31, the price dipped and closed below its 200 hour moving average (Green line in the chart above). However the next day the price gapped higher and ultimately raced to all time highs reached just 2 days ago at 9838.72.
