NASDAQ index down nearly 2%

<p>The NASDAQ index continues its tumble to the downside. The index was just down -1.92%. That is the largest decline since -1.98% on April 25.</p><p>Looking at the daily chart, the 38.2% retracement of the move up from the June 26 corrective low comes in at 14021. There is a gap on the daily chart between June 12 and June 13 between 13963 and 14012. That area will also be targeted.</p><p>As I type the index is now down -1.96%.</p>

This article was written by Greg Michalowski at www.forexlive.com.