Closelook at the US Stock Markets - Post 01

The Nasdaq 100 closed below its 50 Day moving average for the first time since March 10 on Thursday.

Photo by Meric Dagli / Unsplash

The Nasdaq 100 closed below its 50 Day moving average for the first time since March 10 on Thursday. On Friday, we had a weekly close below the level, too. We also had the index's worst two week stretch since December 23, 2022.

So what?

We are now entering the first support level from which we would expect a temporary bounce…