Major US indices open lower after the correction higher yesterday

The major indices are opening lower and retracing some of the strong gains seen yesterday. A snapshot of the market currently shows

• Dow industrial average down -358 points or -1.07% at 32 932. Yesterday’s the index rose 653.61 points.
• S&P index down -43.5 points or -1.01% at 4234.95. Yesterday the index rose 107.18 points
• NASDAQ index down -181 points or -1.37% at 13077. Yesterday the index rose 459.98 points..
• Russell 2000 down -30.25 points or -1.51% at 1986. Yesterday the index rose 53.27 points.

Looking at the NASDAQ index, the sharp rise yesterday still fell short of its falling 100 hour moving average currently at 13415.16. Getting above that moving average is step one in building a more bullish technical bias. The price is now trading back below the swing low from January 24 at 13094.65.

The S&P rally yesterday also fell short of its 100 hour moving average at 4313.05. The high price yesterday reached 4299.40.

In other markets,

•  Gold 
  Gold
  
  Gold is the most widely traded and important commodity. Prized for its historical importance and used for trading an exchange of goods, the gold market today is estimated at nearly $2.4 trillion.The value of gold fluctuates constantly, as it trades on public exchanges where it has a price that is determined by supply and demand. Gold has historically had tremendous significance and even today is extremely sought after. Gold has been used as a currency as it doesn’t corrode, and the material allows for some absorption of light creating a yellow glow, which lends the name yellow metal.Ultimately, institutional and retail investors buy and sell gold contracts or physical gold, thus creating the demand and supply flow.This can be pure speculation, to acquire or distribute physical gold, or as a hedge for commercial application. For day-traders, the purpose of trading gold is to profit from its daily price movements.How to Trade GoldDay-trading gold is speculating on its short-term price movements. Of note, physical gold is not actually handled or taken possession of, rather the transactions take place electronically and only profits or losses are reflected in the trading account.There are a number of ways to ultimately trade gold. Retail brokers typically offer exposure to gold through contracts-for-difference (CFDs).Beyond retail brokers, the main way to trade gold is via a futures contract. This represents an agreement to buy or sell something, i.e. gold at a future date. Buying a gold futures contract doesn’t mean you actually have to take possession of the physical commodity.Day traders close out all contracts (trades) each day and make a profit based on the difference between the price they bought the contract and the price they sold it at. However, on a futures exchange, gold moves in $0.10 increments only. This increment is known as a tick. It is the smallest movement a futures contract can make. If you buy or sell a futures contract, how many ticks the price moves away from your entry price determines your profit or loss.
  
  Gold is the most widely traded and important commodity. Prized for its historical importance and used for trading an exchange of goods, the gold market today is estimated at nearly $2.4 trillion.The value of gold fluctuates constantly, as it trades on public exchanges where it has a price that is determined by supply and demand. Gold has historically had tremendous significance and even today is extremely sought after. Gold has been used as a currency as it doesn’t corrode, and the material allows for some absorption of light creating a yellow glow, which lends the name yellow metal.Ultimately, institutional and retail investors buy and sell gold contracts or physical gold, thus creating the demand and supply flow.This can be pure speculation, to acquire or distribute physical gold, or as a hedge for commercial application. For day-traders, the purpose of trading gold is to profit from its daily price movements.How to Trade GoldDay-trading gold is speculating on its short-term price movements. Of note, physical gold is not actually handled or taken possession of, rather the transactions take place electronically and only profits or losses are reflected in the trading account.There are a number of ways to ultimately trade gold. Retail brokers typically offer exposure to gold through contracts-for-difference (CFDs).Beyond retail brokers, the main way to trade gold is via a futures contract. This represents an agreement to buy or sell something, i.e. gold at a future date. Buying a gold futures contract doesn’t mean you actually have to take possession of the physical commodity.Day traders close out all contracts (trades) each day and make a profit based on the difference between the price they bought the contract and the price they sold it at. However, on a futures exchange, gold moves in $0.10 increments only. This increment is known as a tick. It is the smallest movement a futures contract can make. If you buy or sell a futures contract, how many ticks the price moves away from your entry price determines your profit or loss.
  Read this Term is trading up $11.16 or 0.57% at $2002.86
• Silver is trading up $0.17 or 0.73% $25.96
• WTI crude oil is trading at $113.30 up $4.60
•  Bitcoin 
  Bitcoin
  
  Bitcoin is the largest and world’s first digital currency launched back in 2009 by the entity, Satoshi Nakamoto. Being a digital currency, a defining feature of Bitcoin is that it functions without a central bank or single administrator. Rather, Bitcoin instead can be sent by peer-to-peer (P2P) networking, which is itself absent of any intermediaries.Instead of being a physical currency, Bitcoins represent pieces of digital code that can be sent and received across a kind of distributed ledger network called a blockchain. As Bitcoins are not issued or backed by any governments or central banks, it is considered to be legal tender. Transactions on the Bitcoin network are confirmed by a network of computers (or nodes) that solve a series of complex equations. This process is called Bitcoin mining. In exchange for Bitcoin mining, computers receive rewards in the form of new Bitcoins. Over time, mining grows increasingly difficult, leading subsequent rewards to become smaller and smaller. Given the structure of code, there will only ever be 21 million Bitcoins in existence. However, as of 2020, there were already 18.3 million Bitcoins in circulation. Bitcoin Making HistorySince its launch back in 2009, Bitcoin has remained the most popular and largest cryptocurrency in terms of market cap in the world. Its popularity has also contributed significantly to the release of thousands of other cryptocurrencies, that are now known as altcoins. At its inception, the crypto market was originally hegemonic, though presently the landscape contains countless altcoins.Bitcoin has also been controversial since its original launch. It has been heavily criticized for its use in illegal transactions and money laundering given its decentralized nature.As Bitcoin is impossible to trace, this makes the cryptocurrency an ideal target for illicit behavior. Critics also point to its high electricity consumption for mining, rampant price volatility, and thefts from exchanges. Bitcoin has been seen by some as a speculative bubble given its lack of oversight.
  
  Bitcoin is the largest and world’s first digital currency launched back in 2009 by the entity, Satoshi Nakamoto. Being a digital currency, a defining feature of Bitcoin is that it functions without a central bank or single administrator. Rather, Bitcoin instead can be sent by peer-to-peer (P2P) networking, which is itself absent of any intermediaries.Instead of being a physical currency, Bitcoins represent pieces of digital code that can be sent and received across a kind of distributed ledger network called a blockchain. As Bitcoins are not issued or backed by any governments or central banks, it is considered to be legal tender. Transactions on the Bitcoin network are confirmed by a network of computers (or nodes) that solve a series of complex equations. This process is called Bitcoin mining. In exchange for Bitcoin mining, computers receive rewards in the form of new Bitcoins. Over time, mining grows increasingly difficult, leading subsequent rewards to become smaller and smaller. Given the structure of code, there will only ever be 21 million Bitcoins in existence. However, as of 2020, there were already 18.3 million Bitcoins in circulation. Bitcoin Making HistorySince its launch back in 2009, Bitcoin has remained the most popular and largest cryptocurrency in terms of market cap in the world. Its popularity has also contributed significantly to the release of thousands of other cryptocurrencies, that are now known as altcoins. At its inception, the crypto market was originally hegemonic, though presently the landscape contains countless altcoins.Bitcoin has also been controversial since its original launch. It has been heavily criticized for its use in illegal transactions and money laundering given its decentralized nature.As Bitcoin is impossible to trace, this makes the cryptocurrency an ideal target for illicit behavior. Critics also point to its high electricity consumption for mining, rampant price volatility, and thefts from exchanges. Bitcoin has been seen by some as a speculative bubble given its lack of oversight.
  Read this Term is trading at $39,043
• Wheat futures are trading down $0.13 and $11.88
• Corn meanwhile is up $0.15 at $7.48
• Copper futures are trading up 0.8 at $4.65