NASDAQ index trades above the Monday high

The NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index traded above the Monday high of 12855.15. The high price just reached 12860.30 but has backed off to 12847 currently. The index is still up 353.63 points or 2.83% on the day. The next target area on further upside momentum comes in at 13086 to 13199. The 50% of the move down from the November 2021 high is at 13388.68.

Last week, the price moved above the 100 day MA currently at 12310.70. That MA remains a key support target on the downside as well as a risk and bias defining level.

The Nasdaq is still -20.5% from the all time high from last November and -17.64% from the end of year. However, it is up 21.7% from the June low as well.