Nasdaq remains between daily MAs. Waiting for Powell?
50 day MA at 8052.20 stalled the high again today...
The Nasdaq index is down -34 points or -0.43% at 7986.96. The low today reached 7937.12 and the high extended to 8048.58. At the high the index remained below its 50 day MA at 8052.246. At the lows, the index dipped below the 100 day MA at 7955.78, but has rebounded back above that key MA.
The market is buying time. We can blame the markets anxiety to the Powell speech tomorrow.
The S&P is also between the 100 day MA below at 2910.46 and the 50 day MA at 2947.74 (currently trading at 2923.79).