NASDAQ Index is down over 1.7%
the NASDAQ index is getting hit again today with the index now down about 1.7% to 13725.17. The move to the downside is now approaching the next key target area defined by the January 25 high at 13728.98. The February 3 high at 13723.82, and the 38.2% retracement of the move up from the January 29 low at 13720.511. A move below that area would open the door for further downside. The low today has so far reached 13725.82. Key test.
Yesterday, the price cracked below its 50 and 100 hour moving averages (white and blue moving average lines), but corrected between the levels into the close. The gap lower at the open today, turned the end of day buyers and sellers.
