Selling intensifies in the tech sector
The NASDAQ index continues to tumble. It is currently down 341 points or -2.84% at 11713.
Looking at the hourly chart, the price has now moved below its 50 hour moving average at 11726.335. The break now targets the lower trendline near 11645. The 38.2% retracement of the move up from the August 11 low targets 11573.127. The 100 hour moving averages at 11462.01 and moving higher.