Major indices moving higher
The NASDAQ index is leading a rally to the upside. The tech heavy index moved up to a new session highs 7291.78. That took the price up over 4.3%
The snapshot of the markets are currently showing:
- NASDAQ index +273 points or 3.9% at 7262.41. The high just reached 2456.76
- S&P index up 47.32 points or 1.99% at 2447. The high just reached 7291.78
- Dow up 419 points or 2.10% at 20308. The high reached 20416.
Price action remains a very volatile.
In other markets crude oil futures are now up $4.86 or 23.86% at $25.23. The high price just extended to $25.39. The low for the day came in at $21.36. The 38.2% retracement of the move down over the last 5 trading days comes in at $25.34. Getting above that level is the minimum for the bulls/buyers to take back some control. The percent scan to the upside is huge today but the percentage declines over the last few days has been huge as well.
Spot gold remains under pressure with the price trading at $1471 down $15 or -1.0%.
In the forex market, the NZD and AUD are now the strongest currencies as there is flow into risk today. The EUR and JPY are the weakest of the majors. The EURUSD reached a new session low over the last hour or so of trading.
