The major indices are opening lower with the NASDAQ leading the way. Yesterday the:
- S&P fell -1.37%
- Dow industrial average fell -1.21%.
- NASDAQ -2.3%
- Russell 2000 index fell -3.03%
A snapshot of the major indices shows:.
- Dow Industrial Average average is down -511.4-1.27% at 39850
- S&P index is down -89.0-1.64% at 5356
- NASDAQ index is down -450 points or -2.62% at 16742
The NASDAQ index is now down -10.20% from its high. The second exit is also below is a 100 day moving average at 16877.60, and it 50% midpoint of the move up from the May low at 16946.92. Both those levels are now resistance.
Amazon shares are down -9.83% in volatile trading. Intel is even worse with a decline of -27.54% as it stop its dividend, announced 15,000 layoffs, and is on the verge of getting thrown out of the Dow industrial average.
