NASDAQ index now down 1% and back below its 100 hour moving average

The NASDAQ index is now down over 1% at 13581.28 down 137.69 points or 1.00%. The sharp move to the downside has the price back below its 100 hour moving average at 13661.20. The 50 hour moving average is lower at 13506.23.

The S&P index is also lower and trading near Lowe’s for the day. It is currently down -23.28 points or -0.53% at 4412.55. On the downside, it’s 50 hour moving average comes in a 4405.36. At the open, they price gap above its 100 hour moving average at 4445.84, but sellers were waiting and push the price lower.

In a big surprise, the shares of Nvidia are now trading below its previous highs from Tuesday and going back to July 14 between $480 and $481.90. The current price is trading at $478.56. That’s still up $7.44 or 1.55%, but well off its high at $502.52 in US trading today (the premarket price was even higher).

Sell the fact trading .

This article was written by Greg Michalowski at Source