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Stocks continue to whip around | Forexlive

The US stock indices are enjoying (or not), a volatile session so far today.

Looking at the 5 minute chart, the price opened lower, then reversed back to the upside and is reversing those gains. The pair is trading to a new session low. The high reached 4159.77.

At the high, the price entered into a gap from the close on Feb 7. ON February 7, the price closed at 4164.06. The high on February 8 could only reach 4156.85. Today, some of that gap was filled with the price reaching 4159.77.

The run to the downside is looking to test the swing highs from December which came in between 4100.51 and 4100.96. The low price just reached 4103.69.

Looking at the hourly chart below, on a further move to the downside, the 100 hour MA comes in at 4091.90. Last week, the price moved below that level (and the 38.2% of the most recent move to the upside at 4077.06), but could not sustain momentum. Moving below the 100 hour MA would tilt the short term bias more to the downside nevertheless from a technical perspestive.