New lows in stocks. Nasdaq now down -2%. The S&P is below 4200 level.

  • Nasdaq is now down 2% on the day which is the largest decline since August 2 when the index fell -2.17%. The 38.2% retracement target comes in at 12781.90. The 200 day moving average comes in at 12767.47.
  • S&P index is now below the 4200 level at 4195.47 down -1.23%. It’s 38.2% retracement comes in at 4180.95 and is the next key target.

Meta is the next big Stock announcing earnings after the close. It fell to a low of $301.80. It currently trades at $303.27. The 100 day moving average comes in at $299.09. That will be a key barometer going forward. Back on September 27, the price tested the 100 day moving average and found buyers.

This article was written by Greg Michalowski at Source