US stocks trade with more than 2% losses

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - The major US equity indices opened lower and trade with more than 2% losses as pointed out by the index futures before the opening bell.

    At the time of writing, the Dow Jones Industrial Average (DJIA) was trading 2.3% lower on the day around 16,000 levels. The S&P 500 was revisiting August lows, trading 2.4% lower. On similar lines, The Nasdaq was down 2.8%. The S&P 500 VIX, a gauge of uncertainty/volatility in the markets, was up 15.45% at 27.65 levels.

    The S&P energy and technology sectors were down 3%, industrials sector was down 2%.

    DJIA hits 3-1/2 month low

    The Dow Jones fell to 15,947 levels; its lowest level since September 29th. The index has now recovered to trade above 15,985 levels (76.4% of Aug low- Nov high).

    DJIA Technical Levels

    At 16,010, the index faces immediate resistance at 16232.03 (Jan 11 low), above which the prices could test 16,366.40 (61.8% of Aug low-Nov high). On the other hand, a break below 15,942.37 (Sep 29 low) would open doors for a drop to 15,651.24 (Aug 25 low).
    For more information, read our latest forex news.

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