Feds Williams speaking on a panel discussion. No headlines yet but be aware

The Fed's Williams will be speaking on a panel discussion starting around now. There is no prepared text it seems but can expect comments from the New York Fed president and voting member on the FOMC. I would expect his comments to line up with the Fed chair who yesterday upped his hawkishness, sending bond yields surging to the upside.

The impact of sharply higher rates is not affecting stocks which are on their own run to the upside today.

• S&P index is up 45.77 points or 1.03% at 4507.36
• NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index is up 230 points or 1.67% at 14068.50
• Russell 2000 is up 26.31 points or 1.27% at 2092.25
• Dow industrial average is up 275 points or 0.80% at 34828.80

The S&P is now back above its 200 hour moving average at 4466.64 (see green line in the chart below). Yesterday, the price moved above that moving average level only to back off and close back below it.

The higher 100 hour moving average is up at 4549.58 (see blue line) and is the next upside target.

The NASDAQ index has moved above its 38.2% retracement of the move down from the all-time high reached in November . That level comes in at 13952.28. The next target comes in at 14181.69 which is near swing lows going back to July 2021 and October 2021 (the daily chart below).