Nasdaq leading the way
The US stocks are trading to new session highs led by the Nasdaq index.
A snapshot of the major indices currently shows:
- S&P index up 62.11 points or 2.45% it's 2603.50. The high just reached 2605.18
- Nasdaq index up 207.65 points or 2.77% at 7710. The high just reached 7711.59
- Dow is up 4 and 78 points or 2.21% at 22116.80. The high just reached 22131.76
Technically, the Nasdaq index is still trading below the high price from Friday at 7716.24 and the high price from last week at 7797.537. Those are the next upside targets. Above that the 38.2% retracement of the move down from the February all-time high to the low on March 23 comes in at 7856.476.
The good news technically for the bulls/buyers is that the price remains above its 100 hour moving average which is down at 7393.68 currently (blue line in the chart above).
