NASDAQ Composite Breaks 4,000; Sits on 200-day MA

The NASDAQ Composite has broken through its support at 4,000 and is down more than 60 points, or 1.5 percent so far today.  The index is sitting directly on its 200-day moving average.  Should it penetrate the 200-day MA, the index should trade down to 3,900 in the very near-term.  Beyond that level, there is a little support at 3,800 and then at 3,600, but the real  support is not until we get down to 3,500.


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