US stocks trade to new session lows. S&P & NASDAQ down 4% from its highs from last week | Forexlive

The S&P index is down for the fourth consecutive day. The index is currently down around -64.85 points or -1.62% to 3933.83. The index is approaching the 100 day moving average at 3929.09.

The price of the S&P broke above the 100 day moving average back on November 10, retested the moving average on November 17 and sniffed the moving average last week before bouncing to the highest level since September 12 on December 1.

A move back below the 100 day moving average would be more bearish in the long term.

The declines over the last four days have seen the price of the S&P move down -4% from its high.

Yesterday, the price fell and closed below its 200 day moving average (green line currently at 4042.33). That failure, disappointed the buyers from last week who entered the market after the first break and close above the 200 day moving average since April 2021. The break help contribute to the bearish tone today

The NASDAQ index – down for the 3rd day in a row today – is currently down 223 points or -1.98% at 11017.04. It has moved down 4.16% from last week’s high.

The Dow industrial average is down -384 points are -1.13% at 33562.42. It has fallen -3.04% from last week’s high