Stocks reverse declines and trade higher on the day

The markets are seeing a bit of a reversal.

In the US stock market Stock Market A stock or equity market is defined as the aggregation of buyers and sellers of stocks, which reflect ownership claims on businesses.These may also include securities listed on a public stock exchange, as well as stock that is only traded privately. Common examples of this include shares of private companies that are sold to investors through equity crowdfunding platforms.Unlike the past, the stock market has grown to include a more mature retail market, though nearly all investment is still don A stock or equity market is defined as the aggregation of buyers and sellers of stocks, which reflect ownership claims on businesses.These may also include securities listed on a public stock exchange, as well as stock that is only traded privately. Common examples of this include shares of private companies that are sold to investors through equity crowdfunding platforms.Unlike the past, the stock market has grown to include a more mature retail market, though nearly all investment is still don Read this Term, the major indices are now trading in positive territory and near highs for the day:

• Dow Industrial Average is up 153 points or 0.47%
• S&P index is up 13 points or 0.32%
• 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 is up 25 points or 0.22%

The US debt market, the yields have seen some move back to the upside as well

• two year yield is at 4.74%. It's a low yield reached 4.588%
• five year yield is at 4.05% after reaching a low of 3.928%
• 10 year yield is at 3.77% after reaching a low of 3.674%
• 30 year yield is at 3.749% after reaching a low 3.681%

in the US dollar, the greenback is also moving higher off of low levels.

EURUSD: The EURUSD moved above the high prices from Monday and Tuesday near 1.06936 on its way to a high of 1.07002 (call at 1.0700). The price is moved back down into the swing area between 1.0653 and 1.0668.

USDJPY:

The USDJPY tested a key swing target near the 38.2% between 134.068 and 134.151.

The prices bounced back higher and retests another swing area between 135.11 and 135.22. Sellers have leaned in that area so far with the price currently trading at 134.94. A move above 135.22 would have traders targeting the swing low from Monday's trade at 135.36. Move above that level and could see further upside probing on short covering.

GBPUSD:

The GBPUSD has rotated back to the downside and looks toward the 1.2050 area. Earlier today, the price broke above a downward sloping trendline and also that ceiling area (see red numbered circles). Momentum to the upside increased with the price extending above the 61.8% retracement in the process at 1.20906, and above the 1.2100 level up to a high price of 1.21127 (before rotating back to the downside).

A move back below the 1.2050 level with momentum (watch the 50% midpoint at 1.20355 as well), could see additional selling on the disappointment. The 100 day moving average comes in at 1.2009.

In days like today, things can whip around. Some key targets were reached. Related markets like stocks and bonds are also in play. Paying attention to the technicals is therefore important.