NASDAQ 100 Index ($NDX)
As you are aware I have been watching very closely the Nasdaq 100 ($NDX) index. Today we have some significant skid marks on the charts as the index went off the track.
RUSSELL 2000 Index
I will have much more analysis of the charts in tonight’s market update video.





Today’s movements in the market was very erratic, confusion in the market was quite evident. Strong selling volume right after the opening bell with a quick short covering rally that only took 10 minutes to get underway. That took the S&P back up to where the market opened by around 11:00am. From there we saw a steady flow of selling which took us down to new intra day lows around 12:30pm. That is where the ‘confusion factor’ really picked up in intensity. The remainder of the day it became a battle of those who are betting that the Federal Reserve will cure all ailments and we have only one direction to go, up. And then there were those who kept selling right alongside those who were trying to rally the market upwards. 