Nasdaq makes new session lows, but bouncing.

Technical Analysis

Author: Greg Michalowski | nasdaq

Falls nearly 3% at the session lows.

The NASDAQ index stretched to a new session low to 7777.93, and in the process nearly took the day's decline to 3% (-2.97%).  The index has bounced off the low, however, and currently trades at 7800, -215 points on the day or -2.69%.

Falls nearly 3% at the session lows.
Technically, the price is still way off the lows from last week at 7662.90 and above a trend line at 7721.80.  Breaks below both would next target the 200 day MA at 7569.44.  

The price today opened below the 100 day MA at 7841.818 (blue line).  It will take a move above to turn the bias around again.  

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