The major stock indices are extending their declines with the NASDAQ index down near 1%.
NASDAQ index is below the 38.2% retracement
Looking at the daily chart of the NASDAQ index, it is now below the 30.2% retracement of the move up from the January low to the January high. That level comes in at 15751.45. Same below that level keeps the sellers in control at least in the short term.
The 50% midpoint of the same 2024 range comes in at 15508.22. The 100-day moving average is at 15465.72. Those levels are the next targets off the daily chart.
Looking at the S&P index, it also fell below its 38.2% retracement of the 2024 trading range at 5042.24. Its 50% midpoint is at 4973.48. The 100-day moving averages down at 4926.26. Both are there targets.
S&P is below the 38.2% retracement
