Wednesday the NASDAQ tested its 200 day moving average line in early trading and bounced up.
The S&P500 was down for the day but is trading above its 200 dma.
Small and mid-cap indexes however are finding resistance at their 200 day moving averages.
While we are still at 100% invested we would feel more comfortable with all indexes trading above the 200 day and finding support rather than resistance.
Futures were down at the open this morning and the indexes are trading slightly in the red.
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