The Nasdaq clung on to its 200-day MA, despite a brief move below this key support level intraday. Volume climbed in confirmed distribution, so the respite at the 200-day MA may be brief.
The S&P touched the 50-day MA at its low, but there is probably more downside to come.
The Russell 2000 hasn't hit any moving average yet, and could comfortably take a third day of selling before it would.
Friday probably won't offer a whole lot. A late rally would help shore up confidence going into the weekend, but the November-December rebound could take a more substantial pullback and still be considered bullish.
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