S&P down is down 4.5. Nasdaq down 16. Off lows
The S&P is trading down about 4.5 points while the Nasdaq is down 16. The S&P index fell below the 100 day MA and the 38.2% retracement at the 2029.74 and 2021.21 level respectively during Friday’s trade. Today the high for the S&P reached 2021.94 – just at that broken 38.2% retracement level (see chart below). A move back above these broken levels will be eyed to see if the buyers can take back control.