Major indices down over 1.1% with the Nasdaq down -1.37%
The major US stock indices are extending their losses with the NASDAQ index now down -200 points or -1.37%.
The Dow is lower by -440 points or -1.24%.
The S&P is lower bite -52 points or -1.17%.
Looking at the NASDAQ hourly chart below, the price is just now cracking below the August low at 14584.09 (as I type).
The price has moved away from its 200 hour moving average above at 14695.26.
Yesterday, the price opened lower and then spent the rest of the day rebounding to the upside. by the close, the price was backup testing the 100 hour moving average and the 50 hour moving average. The gap lower opening today however, has not found buyers.