Nasdaq fills the gap (well almost) and bounces off 38.2% retracement on the first look

NASDAQ bounces off 38.2% and fills a gap

The NASDAQ index move down to a low of 17352.93. In a prior post I outlined the area as a target level. The level corresponds with the 38.2% retracement of the move-up from the May low. That level comes in at 17353.82. It also corresponds roughly with the gap from June 11. That level came in at 17345.05.

The bounce back higher has the price trading at 17423. That is still down 572 points or -3.18%. Getting back above 17494.02 is needed to give the dip buyers some breathing space and a little more confidence.

The clock is ticking toward the close. Speaking of which the earnings after the close and the earnings scheduled tomorrow morning include: