Major US indices open lower after the correction higher yesterday

The major indices are opening lower and retracing some of the strong gains seen yesterday. A snapshot of the market currently shows

• Dow industrial average down -358 points or -1.07% at 32 932. Yesterday's the index rose 653.61 points.
• S&P index down -43.5 points or -1.01% at 4234.95. Yesterday the index rose 107.18 points
• NASDAQ index down -181 points or -1.37% at 13077. Yesterday the index rose 459.98 points..
• Russell 2000 down -30.25 points or -1.51% at 1986. Yesterday the index rose 53.27 points.

Looking at the NASDAQ index, the sharp rise yesterday still fell short of its falling 100 hour moving average currently at 13415.16. Getting above that moving average is step one in building a more bullish technical bias. The price is now trading back below the swing low from January 24 at 13094.65.

The S&P rally yesterday also fell short of its 100 hour moving average at 4313.05. The high price yesterday reached 4299.40.

In other markets,

• Gold Gold Gold is the most widely traded and important commodity. Prized for its historical importance and used for trading an exchange of goods, the gold market today is estimated at nearly $2.4 trillion.The value of gold fluctuates constantly, as it trades on public exchanges where it has a price that is determined by supply and demand. Gold has historically had tremendous significance and even today is extremely sought after. Gold has been used as a currency as it doesn't corrode, and the material allo Gold is the most widely traded and important commodity. Prized for its historical importance and used for trading an exchange of goods, the gold market today is estimated at nearly $2.4 trillion.The value of gold fluctuates constantly, as it trades on public exchanges where it has a price that is determined by supply and demand. Gold has historically had tremendous significance and even today is extremely sought after. Gold has been used as a currency as it doesn't corrode, and the material allo Read this Term is trading up $11.16 or 0.57% at $2002.86
• Silver is trading up $0.17 or 0.73% $25.96
• WTI crude oil is trading at $113.30 up $4.60
• Bitcoin Bitcoin Bitcoin is the largest and world’s first digital currency launched back in 2009 by the entity, Satoshi Nakamoto. Being a digital currency, a defining feature of Bitcoin is that it functions without a central bank or single administrator. Rather, Bitcoin instead can be sent by peer-to-peer (P2P) networking, which is itself absent of any intermediaries.Instead of being a physical currency, Bitcoins represent pieces of digital code that can be sent and received across a kind of distributed ledger n Bitcoin is the largest and world’s first digital currency launched back in 2009 by the entity, Satoshi Nakamoto. Being a digital currency, a defining feature of Bitcoin is that it functions without a central bank or single administrator. Rather, Bitcoin instead can be sent by peer-to-peer (P2P) networking, which is itself absent of any intermediaries.Instead of being a physical currency, Bitcoins represent pieces of digital code that can be sent and received across a kind of distributed ledger n Read this Term is trading at $39,043
• Wheat futures are trading down $0.13 and $11.88
• Corn meanwhile is up $0.15 at $7.48
• Copper futures are trading up 0.8 at $4.65

In the US debt market:

• two year yield is at 1.72% up 4.3 basis points
• 10 year is at 1.979%, up 3.1 basis points
• 30 year is at 2.36%, up five point basis points

In the forex, the rally in the EUR has failed with the price now trading at new session lows and below its 200 hour MA at 1.1030. The EUR is the weakest and the AUD is the strongest of the major currencies

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