At the start of the US stock trading session, the NASDAQ index continues to get hit is a rotation out of the tech stocks and into the cyclicals continues. The NASDAQ index is down six the last seven trading days. The Dow industrial average is up modestly while the S&P index is modestly lower. A snapshot of the market currently shows:

  • Dow industrial average up 17 points or 0.05% at 36814.21
  • S&P index -14 point or -0.29% of 4779.27
  • NASDAQ index -144 points or -0.92% at 15480
  • Russell 2000 is down -0.64 points or -0.03% at 2268.30

Looking at the hourly chart of the NASDAQ index, the price has moved below its near converged 100 and 200 hour moving averages near 15520. Stay below is more bearish.

NASDAQ index on the hourly chart

A snapshot of the other markets as stock trading gets underway shows:

  • Spot gold is up $4.62 or 0.69% $1826.60
  • Spot silver is up $0.15 or 0.67% at $23.19
  • WTI crude oil futures are up one dollar at $77.98
  • The price of bitcoin is trading at $46,300 near the level the 5 PM yesterday