Stock tumble accelerates

Technical Analysis

Author: Greg Michalowski | sp

Nasdaq leading the way lower

The stock tumble has accelerated with the 
  • S&P index down -27 points at 3299. The low just reached 3295.06
  • NASDAQ index down -67.6 points or -0.71% 9336. The low just reached 9324.34
  • Dow down -155 points or -0.53% at 29004.8. The low reached 28961.88
looking at the hourly chart of the NASDAQ index below, the price dipped below the 50 hour moving average currently at 9348.794. That is the 1st dip below that moving average since December 6 (for only 1 bar at that time).  Stay below will keep the trading sellers more in control intraday.

Nasdaq leading the way lower_
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