The S&P 500 index was flirting with a close below an important, long-term trend line as selling intensified late-Friday on the back of trade-war fears. The S&P 500 index was down 48 points, or 1.9%, at 2,594, threatening to slip beneath its 200-day MA at 2,585.26, according to FactSet data. Slipping below 2,600 also is a psychological round-number level that also could herald a bearish trend for the S&P 500. Technical analysts pay attention to moving averages to help gauge bullish and bearish momentum in an asset. The Dow Jones Industrial Average , meanwhile, was down 350 points, or 1.5%, at 23,606, while the Nasdaq Composite Index breached its 100-day moving average earlier in the session and was recently off 2.1% at 7,018. The S&P 500 last fell below its 200-day MA on Feb. 9, a day after the Dow and S&P 500 fell into correction territory, defined as a drop of at least 10% from a recent high.
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