Broader stock indices are sharply lower. What are the key levels in the Nasdaq/S&P & WHY.
globalreutersAugust 5, 20241 Mins read The major US indices are sharply lower but bouncing higher in early US trading. What levels are key on the correction? and WHY technically. For the NASDAQ index watch16442 – 16538. Before that watch 16330 which is the broken 38.2% retracement of the move-up from the October 2023 low.
For the S&P index, it gapped below its 100-day moving average at 5307.42. That is topside resistance.
Other levels are at 5192 and 5264. Those levels are exits on a more bullish path.
This article was written by Greg Michalowski at www.forexlive.com.
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This article was written by Greg Michalowski at www.forexlive.com.
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