Watching 4500
The US stocks continue to get hit. The Nasdaq composite index moved down 12.63% from the end of December high to the low today. The price moved below the 4500 level and the low from September at the 4487 level. We are seeing a little rebound, but if the pattern continues the corrections get slammed. Yesterday, the index moved up to the prior day high and got near the 50% of the move up from the August low, and that was it. Back down hard.
The Nasdaq composite index falls below September low. Rebounds but need to see more.
