But backs off. Be aware.
The Nasdaq is seeing some buying after heavy selling since the start of the month, took the index down -5.5% from the month high to the month low reached yesterday.
The price has moved back above the 100 day MA at 7786.08 and scrambled up to a high of 7799.74, but has since backed off. We currently trade below the MA at around 7780 as I type.
That MA will be eyed today as a barometer for bulls and bears. Stay below would be more bearish. Move back above, and more shorts/hedges might be lifted (and lead to higher prices).
