US stocks open lower. Major indices give back some of the gains from yesterday.

The major indices broke six day declines yesterday with solid gains. However today stocks are opening lower giving back some of the gains from yesterday.

A snapshot of the market currently shows

• Dow industrial average -284 points or -0.96% at 29400.21. Yesterday the index rose 1.88%
• S&P index is down -45 points or -1.21% at 3674.03. Yesterday the index rose 1.9%
• NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index is down -181 points or -1.65% 10869. Yesterday the index rose 2.05%
• Russell 2000 is down 31.45 points or -1.83% at 1683.70. Yesterday the index rose 3.17%

in the US debt market, yields are higher but off the highest levels:

• 2 year 4.188% +9.0 basis points
• 5year 4.006% +8.6 basis points
• 10 year 3.781%, +7.6 basis points
• 30 year 3.737%, +5.7 basis points

In the Forex:

• GBPUSD GBP/USD The GBP/USD is the currency pair encompassing the United Kingdom’s currency, the British pound sterling (symbol £, code GBP), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one British pound. For example, when the GBP/USD is trading at 1.5000, it means 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair on the forex exchange market, giving it ample liquidity a The GBP/USD is the currency pair encompassing the United Kingdom’s currency, the British pound sterling (symbol £, code GBP), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one British pound. For example, when the GBP/USD is trading at 1.5000, it means 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair on the forex exchange market, giving it ample liquidity a Read this Term buyers are making a play rising two new highs for the week (above 1.09304) and above the 38.2% retracement of the move down from the September 13 high at 1.0882. The current price trades at 1.0962. The 1.1000 natural resistance is the next target followed by the falling 200 hour moving average near 1.1046.
• EURUSD is back above its 38.2% retracement of the move down from the September 20 high at 0.97319. The price is testing the swing high from yesterday and high for the week at 0.97505. Move above and the falling 200 hour moving average at 0.97814 would be targeted
• USDJPY is falling the dollar lower and trades back below the low of a swing area between 144.557 and 145.00. The current price trades at 144.50. The rising 100 hour moving average at 144.28 will be target on further selling
• USDCHF trades between its 100 hour moving average above at 0.98624, and its 200 hour moving average below at 0.9775. The current price is moving back down toward the 200 hour moving average with the current price trading at 0.9796.

The USDCAD, AUDUSD and NZDUSD are all trading above and below there 100 hour moving averages. Buyers and sellers are battling it out and waiting for the next shove.

• USDCAD 100 hour moving averages at 1.3676. The current price trades at 1.3683
• AUDUSD 100 hour moving averages at 0.64766. The current price is just above at 0.6480
• NZDUSD 100 hour moving averages at 0.56828. The current price is trading at 0.5685