US stock indices taking it on the chin at the US open

The major US stock indices are opening the sharply lower with the NASDAQ index leading the declines with a fall of over 200 points in early trading. A snapshot of the market currently shows:

• Dow Industrial Average -252.41 points or -0.75% at 33481.56
• S&P index -48.61 points or -1.21% at 3968.33
• NASDAQ index -200.97 points or -1.77% at 11133.30
• Russell 2000-20.82 points or -1.10% at 1864.79

Looking at the S&P index on the daily chart, the price has moved back down toward its 200 day moving average at 3961.37. The low price today did reached 3964.95 so far. A move back below that moving average would tilt the bias back to the downside. Yesterday and on Monday, the price tested a topside trendline.

Looking at the 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, the price decline remains still above its 100 day moving average of 10983.60. However it is back below the 38.2% retracement of the move down from the August high at 11270.07. Getting back above that retracement level is needed to give the buyer some hope. Ultimately, getting above the 200 day moving average Moving average A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot Read this Term at 11526.26 would be required to increase a bullish bias for the NASDAQ index.

Microsoft is leading the declines with a fall of $-8.22 or -3.44% after guiding down expectations going forward..

Boeing announced worse than expected earnings and revenues, but their stock is hanging in there at $-0.22 or -0.10% as cash flow increased.

Tesla reports after the close. Its shares are down two dollars or -1.4% in early trading.