Headline: S&P 500 and Nasdaq Approach Critical Support as 100-Day Averages Loom
Key Takeaways
U.S. equities are under pressure, with the S&P 500 and Nasdaq both drifting toward key technical levels that could shape near-term market direction. Traders are watching the 100-day moving averages and nearby support zones for clues on momentum, risk appetite, and potential follow-through in volatility.
The S&P 500 is testing its 100-day moving average around 6,544.66 after holding above it since May 9. An early dip below that threshold drew a modest rebound, highlighting the level’s importance for trend-followers and risk managers. A decisive move lower would mark a shift in medium-term momentum, while a sustained hold could stabilize sentiment.
The Nasdaq has slipped beneath a key support floor near 22,204.43, opening a path toward its 100-day moving average around 22,040. Remaining below the former floor keeps sellers in control; reclaiming it would ease immediate downside pressure. In single-stock moves, Nvidia shares are down more than 2% to about $181.34, edging toward their own 100-day moving average at $180.08. That level attracted buyers earlier in the week; a clean break would be the first since May 12 and could weigh on mega-cap tech leadership.
Key Points: – S&P 500 is testing its 100-day moving average near 6,544.66 after months above it. – Nasdaq fell below a support floor around 22,204.43, with the 100-day MA near 22,040 in focus. – Both indices last traded below their 100-day MAs in early May. – Nvidia is down about 2.7% near $181.34 and approaching its 100-day MA at $180.08. – A sustained break of these moving averages could signal further downside and higher volatility.
