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Not a great start to the year for the Nasdaq 100

Yesterday the Nasdaq 100 continued to fall after the European close and that saw the US tech index drop to a session low at 16,453. Earlier, in my last update of the day I noted the next support level for the index, which was the 21 day moving average, at 16,457. Well, as you can see that was put to the test, but in essence it managed to stem the losses and the index subsequently bounced into the close. However, it was still not a great start to the New Year for the Nasdaq 100. The index later closed at 16,543, with a loss of 282 points (-1.68%) on the day. Overnight the Asian markets have mostly been led lower by falls in Taiwan and Hong Kong. The Japanese markets remain closed and will not reopen until Thursday. So, the Nasdaq 100 futures have not made any progress ahead of the European opening and are currently pricing a reopening not much removed from the close last night. That 21 day moving average remains unchanged too, as of the close. 

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