Major indices still off highs
The Nasdaq index has recovered and is trading up about 0.66% at 10850. That is off the low at 10737.51. The index remains below the high for the day at 10879.17.
Technically, the 50 hour moving average comes in at 10934.88. It would take a move above that level to give buyers more confidence. Note however, that would be the minimum target for the index if the buyers are to take back more control. Other upside targets come in at the topside channel trendline currently at 11096 (and moving lower). In the falling 100 hour moving average at 11145.65.
The S&P index is also higher the day at +0.34%. The Dow industrial average remains below its daily midpoint range and trades negative at -0.09%.
