NASDAQ index is moving down to test its 200 hour MA
The Nasdaq indea is trading to new lows on the day and in the process is getting closer to the rising 200 hour moving average currently at 12285.52.
Recall from Friday, the price fell back below its 100 hour moving average into the close and close below that level. Today the price gapped lower, and has continued the selling.
The price last traded below its 200 hour moving average back on July 15 one the moving average was at 11358.29. The price moved up 15.63% from that moving average level to the high from August 16. Since then, the price is down around 6%..
