The Nasdaq moves sharply lower (well tumbling lower now)

Down -0.87% -1.34%

The Nasdaq index has moved sharply lower after gapping on the opening.

The price has trading down -82 points or -1.34%. On the move lower, it filled a gap from July18/19 at 6344. The 100 hour MA is fast approaching at 6319.98 (blue line in the chart below). The 38.2% of the move up from the July low comes in at 6316.10.

The S&P is down -12 points or -0.49%.

The Dow is up 12 points or 0.06%

So there is a rotation out the tech stocks.

Amazon, which reports after the close, is trading down -$2.14 after being up about $27 at the highs.