NASDAQ leading the way to the upside
the major indices are trading at new session highs with all 3 indices now positive on the day
- Dow industrial average up 1 point at 27693.90
- S&P index up 2.66 points or 0.08% at 3377.43
- NASDAQ index is leading the way with a 51 point gain or 0.46% at 11198.44
Yesterday the S&P index reached a new all time intraday high only to fall off and close lower on the day. It traded down -20 points today or -0.6% at the session lows before rebounding back to the upside.
The Dow industrial average was down as much as -166 points before rebounding back toward unchanged levels.
The NASDAQ index fell by -56 points or -0.51%, before rebounding to up near 56 points (the high has been up about 53 points) on the day.
Spot gold is trading back higher but below the intraday high of $1955.49. It currently trades at $1946.48.
The US dollar has been swinging up and back down again. The GBPUSD has now moved above its 100 hour moving average at 1.31442 and whipping traders around after a fall below its 200 hour moving average at 1.31043.
The EURUSD also fell back below its 200 hour moving average and made new session lows in the last hour (to a low of 1.18015). The inability to get below the 1.1800 level may have given buyers some confidence. The price is back above its 200 hour moving average at 1.18283 and trades up to 1.1846 currently.
