NASDAQ up 1.16% now..
The US Major indices continue to move higher - making new highs in the last few minutes of trading
- S&P index is up 0.75% at 2583.74. The low reach 2572.95
- NASDAQ composite index is up 78 points or 1.16% at 6784.2. The low rate 6742.33
- Dow industrial average is up 175 points or 0.75% at 23447.9. The low reach 23365.34
Looking at the hourly chart of the NASDAQ composite index below, the pair traded between the 200 hour and 100 hour moving average and trading yesterday. Today the price gap above the 100 hour moving average at 6735.75 (blue line in the chart above) , and it did not take long to move up to 50 hour moving average at 6746.46 (white line in the chart above). The high price for the NASDAQ reached 6795.51 back on November 7.
Despite the surge in stocks and also increases in yields, the USDJPY is trading lower on the day. That has not been the pattern of late at least. US 10 year yields are trading at 2.349%, up 2.7 basis points.
