Nasdaq falls below the 200 hour MA, but bounces

Technical Analysis

The 200 hour MA is at 9055.14 now

The rising 200 hour MA was broken at 9155.14 on the way to a low of 9150.348. 

One quick break.  If the level is broken again, there could be more selling into the weekend with the low for the week at 9088 and the 38.2% at 9063.308 as targets.  

Putting things into perspective, the move from the high last week to the low on Monday was a 3.8% decline (from high to low).  The move to the low today is 3.1%. That is not a disaster or there is room for more and it still would be ok. 

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