No surprise there
No surprise, US major indices are opening sharply lower. That is the bad news. The good news is the major indices are recovering in the early trade.
The snapshot is showing:
- S&P is down -38.74 point or -1.33% at 2906.37. The low reached 2898.21
- Nasdaq is down -139 points at 8025.62. The low reached 7981.85
- Dow is down -375 points at 26132. The low reache 26033
For the Nasdaq, the price gapped below the 100 hour MA at 8067.407. That MA will be eyed on a test. Stay below keeps the sellers more in control. Move above, and the waters are more muddy (with the 50 hour MA eyed).
For the S&P index the 2923 is the 100 hour MA