The NASDAQ gapped down on the open and made a feeble attempt to fill the gap. Around noon, it took out the OR (opening range) low and the rest is reflected in the long red candlestick. All tech sectors participated in the meltdown. It's obvious from today's volume spike that we are going lower. The next level of support is last week's low at 2340, followed by 2325 and then we are looking at the 200 day MA which is edging its way towards 2300.Economic Calendar for tomorrow: Current Account; Import/Export Prices at 8:30; followed by Crude inventories at 10:30 EST.
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