S&P 500 Tests Breakout as Dow and Nasdaq Hold Key Support

The NASDAQ 100 has been a bit noisy in pre-market trading and overnight electronic trading on Monday, as we continue to hang around the 50-day EMA. Currently, it looks as if the market is trying to determine whether this has been a bit of a pullback or if it becomes something a little bit more substantial.

It’s a fairly quiet week, economically speaking, as far as announcements are concerned, so it’ll be interesting to see how this plays out. Technical traders most certainly will be watching this 50-day EMA, as they have been for several days now.