Still above the low for the day but sellers reentering
After the NASDAQ index tumbled around -225 points in early New York trading to 13132.852, the index rebounded to 13296.39 (down -61 points). The index has since resumed its tumble to the downside and has returned back toward -200 points or -1.48% (currently trading down -187 points.
The price remains well below its declining 50 hour moving average at 13398.30. As long as the price can remain below that moving average, the bears are more in control.
The USD has turned little more positive from the London/European close. It still remains down vs. the GBP and CAD, but has extended gains vs. the NZD (the weakest), CHF and AUD.
