In the video above, I take a look at the technical picture for both the Nasdaq Composite and the Nasdaq 100. Although both indices are lower, their longer-term technical pictures are beginning to diverge.As of 11:05 AM ET:The Nasdaq Composite is down approximately 1.0%.The Nasdaq 100 is down approximately 1.3%, with chip and AI-related shares contributing to the larger decline.The 100-day moving averages tell different storiesThe Nasdaq Composite is testing—but so far holding—its rising 100-day moving average at 25,982.22. Today’s low reached 25,992.55, just above that important support level.That close test gives buyers a level against which they can lean. Staying above the rising 100-day moving average would keep buyers in the longer-term game. A sustained break below it, however, would weaken the technical picture and likely encourage additional selling.The Nasdaq 100 has already broken below its 100-day moving average at 29,167.25, reaching a low of 28,867.67.That break gives sellers firmer control. The 100-day moving average now becomes resistance, and buyers must push the index back above it to take some of the bearish pressure out of the market.The shorter-term bias is bearish for both indicesAlthough the 100-day moving averages show a divergence, the shorter-term technical picture is bearish for both indices. Each is trading below its 100- and 200-hour moving averages.For the Nasdaq Composite:100-hour moving average: 26,288.46200-hour moving average: 26,383.01Friday’s close: 26,353For the Nasdaq 100:100-hour moving average: 29,321.02200-hour moving average: 29,474.15Friday’s close: 29,368Both indices closed Friday between their respective hourly moving averages. That suggested a more neutral short-term bias heading into today’s trading. The move below both moving averages has shifted that bias back in the sellers’ favor.What traders should watchMoving averages help traders define the bias and establish clear risk levels. When price is below both the 100- and 200-hour moving averages, sellers have the short-term advantage. If the indices are going to recover, they must first reclaim those hourly moving averages.The key difference is that buyers in the Nasdaq Composite are still making a stand against the rising 100-day moving average. In the Nasdaq 100, that support has already been broken, leaving sellers with the stronger technical hand.In short, sellers control the short-term bias in both indices, but the Nasdaq Composite remains at an important longer-term support level. The Nasdaq 100 has already crossed that line—and buyers now have more work to do. This article was written by Greg Michalowski at investinglive.com.