S&P moves to new lows and is back down testing the 200 hour MA

The S&P is trading to new lows and 6615.71, and in doing so is dipping just below the 200 hour moving average at 6616.42.Concerned about US and China and now the layoffs/firings of thousands of federal workers. The market has been ignoring the shut down. Add concerns about raising tariffs on China goods and its impact on inflation and layoffs, and that could lead to lower growth if the problems are not solved.The NASDAQ index is down 558 points or 2.43% at 22463. Its low from earlier today came in at 22439.66. It 200 hour moving average is further lower at 22349.22.
This article was written by Greg Michalowski at investinglive.com.

Source: investinglive.com (Read Full Article)