Nasdaq 100 falls below 200-day moving average for first time in 10 months

The Nasdaq 100 slumped 0.9% in early trade Friday, pushing the technology-friendly index below its widely-watched 200-day moving average for the first time since Oct. 16. The index has now lost 4.9% in four sessions, and 7.1% since closing at a more than 15-year high of 4,679.68 on July 20. The 200-day MA, which many chart watchers use as a dividing line between longer-term uptrends and downtrends, currently comes in around 4,384. Apple Inc.'s stock , which is by far the index's most heavily-weighted component, fell below its 200-day moving average on Aug. 3, for the first time since September 2013, and hasn't been back above it since. Elsewhere, the Nasdaq Composite closed below its 200-day MA on Thursday, for the first time since October. The Dow Jones Industrial Average and S&P 500 Index have had multiple closes below their 200-day MAs this month.

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