Another >1% haircut for the major stock indices near the open for the week.

The major US indices are taken another greater than 1% haircut from the price closed on Friday.

  • The NASDAQ index is trading at its lowest level in eight month (going back to May)
  • The S&P is trading at lowest level since October 6
  • The S&P and NASDAQ are down for the fifth straight day
  • The Dow is down for the seventh consecutive day

A snapshot 12 minutes into the open is currently showing:

  • Dow industrial average -384.33 points or -1.11% at 33882
  • S&P -65 points or -1.48% at 4332.71
  • NASDAQ index –265 points or -1.92% at 13504
  • Russell 2000 is down -3.49 points or -1.84% at 1951.33

The NASDAQ index is now down 16.94% from its all-time high. The swing low from May came in around the 13000 level. I would be the next major target.

NASDAQ index

NASDAQ index on the daily chart

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