📉Wall Street starts in the red

🔽The major US stock indices start the session lower. Nasdaq and Russell 2000 suffered the most

Investors in the US are affected by today's worse mood, which we could see in Europe. The main US stock indices launched today’s session with bearish price gaps. Despite the fact that we are seeing an attempt to recover, both the Dow Jones, S$P500, Nasdaq and Russell 2000 are still trading 1% lower.

Looking technically at the S&P 500 (US500) index, we are seeing a continuation of the move as part of a downward correction. If the sell-off deepens, an attack on support around 4100 pts is possible. This level is marked with the lower limit of the 1: 1 structure. According to the Overbalance methodology, only break lower would lead to a change in the trend.

US500 interval H4. Source: xStation5