Nasdaq down over 100 points now

Technical Analysis

Author: Greg Michalowski | nasdaq

Lower targets eyed including the end of year level

The NASDAQ index is now down over 100 points or -1.09% at 9120.00.  The low reached 9104.199 so far.

Lower targets eyed including the end of year level
On the downside, the pair is approaching the swing low from January 27 at 9092.46. Below that level, the 38.2% retracement of the move up from the August low comes in at 9007.34. The end of year closing the price for 2019 is at 8972.60 (the S&P index and Dow are lower on the year). 

A move into the red for the year could wobble the apple cart, with the rising 100 day moving average at 8795.10 another downside target (blue line in the chart above). The price has not traded below its 100 day moving average since mid-October

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