Nasdaq index trades down -1.78%

The US stocks are trading to new session lows. IN the process, the Dow, Nasdaq and S&P indices have all erased the gains from yesterday. Yesterday,

  • The NASDAQ index closed up 184.83 points or 1.71%
  • The S&P index closed up 34.51 points or +1.05%
  • The Dow industrial average closed up 140.48 points or 0.52%

Currently,

  • The NASDAQ index is down -194 points or -1.78% 10768.50
  • The S&P index is down 38 points or -1.14% at 3277.65
  • The Dow is down 230 points or -0.84% at 27058

Looking at the NASDAQ hourly chart, the index moved above its 50 hour moving average in the last hour of trading yesterday. Today in the 1st hour, the price move back below that moving average level and has extended lower. The low price from yesterday came in at 10737.51. That is the next downside target. The Monday low reached down to 10519.493 at its lowest level.

Nasdaq index trades down -1.78%_