Dow Jones now eyeing an opening below 41k

The opening outlook for the US stock markets is even bleaker just now than it was at the time of the last update looking specifically at the Nasdaq 100. The Dow Jones is now pricing an opening more than 1200 points below where art closed last night (42,225). In fact it has been even worse than that a little earlier. So, with less than 20 minutes to go before the US markets reopen it is going to be an incredibly negative start and one where almost everyone is likely to run for cover. Some bulls may want to spin the prospect of buying the dip, but that seems a dangerous strategy right now. Of course there may be interim bounces, but right now it is hard to make a case for any of those being sustained. The outlook for the S+P 500 and Nasdaq 100 is equally bleak this afternoon and it looks to be a case of just how far these stocks will fall before someone decides enough is enough. To be honest given the magnitude of the news last night, that time does not seem to be upon us yet. The Dow Jones has been priced to reopen as low as 40,900. It is right now priced to reopen around 40,970