Nasdaq Breaks Key Support, Russell 2000 Tests 50 DMA as Dow Battles Resistance

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Nasdaq Breaks Key Support, Russell 2000 Tests 50 DMA as Dow Battles Resistance
Dow Jones Industrial AverageUS Small Cap 2000NVIDIA Corporation
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Stocks Analysis by Declan Fallon covering: S&P 500, Dow Jones Industrial Average, US Small Cap 2000, NVIDIA Corporation. Read Declan Fallon's latest article on Investing.com

) 5%+ loss in after-hours on its earnings release won't help the mood, but it could play as a bullish opportunity into today's open.had the worst of yesterday's action, undercutting its 20-day MA, although neither it nor its 50-day MA offered much in the way of support on its last test. Volume climbed to register as distribution. I will be looking for more of the same today.

Although the index has already tested this moving average earlier this month, the likelihood of the second test holding is slim. The Dow Jones Industrial Average did well to make back on its losses and it could follow through with an upside today, although Nvidia's results will likely keep a lid on things for a few days.

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