What does it mean when the Nasdaq falls below its 200-hour moving average?

It means the short-term bullish bias is no longer intact. When price trades between the 200-hour and 100-hour moving averages, the outlook shifts to neutral, with neither buyers nor sellers in clear control.

What is a double-top pattern and why does it matter for the S&P 500?

A double-top forms when an index fails to break above the same resistance level on two separate attempts, which can signal a potential reversal lower. For the S&P 500, that key resistance level is near 7,575.50.

Where is support for the S&P 500 if it continues to fall?

The first meaningful support levels for the S&P 500 are the 200-hour moving average at roughly 7,472.92 and the 100-hour moving average near 7,463.47, both of which are still some distance below current prices.

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Nasdaq Turns Neutral While S&P 500 Holds Bullish Lean

Summarized from Forexlive Originally published 2026-07-13 Summary published 2026-07-14

The Nasdaq slipped below a key moving average, flipping short-term momentum neutral. The S&P 500 faces a potential double-top but still leans bullish.

If you've been watching the markets today, things got a little wobbly — especially for tech. The Nasdaq Composite is off about 0.90% in early trading, while the S&P 500 is holding up a bit better with a smaller 0.40% dip. Not a disaster, but enough of a move to change the technical story for one of these indexes.

Here's the plain-English version of what's happening with the Nasdaq: it just slipped back below its 200-hour moving average (think of that as a short-term trend line that traders watch closely). That level sits around 26,088. Now the index is stuck in no-man's land — trading between the 200-hour moving average above and the 100-hour moving average below at roughly 25,874. When price is caught between those two levels, technicians call the bias "neutral," meaning neither buyers nor sellers have a clear edge. A push back above 26,088 would get the bulls excited again, but a drop below 25,874 would give the bears more ammunition.

The S&P 500 has its own drama going on. Friday's rally ran smack into resistance near 7,575.50 — the same swing high from June 15 — and sellers showed up right on cue. Today's gap lower is leaving what chartists call a potential "double-top" at that level, which is a bearish signal if confirmed. Basically, the market tried twice to break above that ceiling and failed both times. Still, the S&P hasn't broken down in a serious way yet; meaningful support doesn't kick in until the 200-hour moving average around 7,473 and the 100-hour moving average near 7,463, both of which are still a fair distance below current prices.

The bottom line: the Nasdaq needs to reclaim its 200-hour moving average to get back on track, while the S&P 500 is in a wait-and-see zone — bullish enough overall, but with a potential topping pattern that's worth keeping an eye on. Neither index is in full panic mode, but the mood has clearly shifted from last week's optimism.

Continue reading at Forexlive.

About this article

This is an AI-assisted editorial summary of reporting first published by Forexlive. All facts, quotes, and reporting are attributed to the original publisher; any errors of summarization are ours alone. Please visit the original source for the complete, authoritative version.

Original title: “The declines in the Nasdaq has tilted the short term bias more into neutral territory. S&P remains more bullish.”
Source: Forexlive
First published: 2026-07-13
Original URL: https://investinglive.com/technical-analysis/the-declines-in-the-nasdaq-has-tilted-the-short-term-bias-more-into-neutral-territory-s-p-remains-more-bullish

Read the full article at Forexlive

Nasdaq Turns Neutral While S&P 500 Holds Bullish Lean

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