- S&P 500 +0.8%
- Nasdaq +0.4%
- Dow Jones +0.9%
It's a solid open but some of the gains from futures earlier in European morning trade have moderated, in tech stocks especially. This week is of particular interest as US stocks have been battered for seven weeks on the trot. That's the longest streak since 2001 with the worst-ever streaks previously being eight weeks back in 2001 and 1970 respectively.
The low point for the S&P 500 last week tested the 38.2 Fib retracement level:
Is that enough to see a technical bounce or a slight retracement in the downside action?