The major indices are trading modestly higher in early trading. The Dow is up fractionally. The NASDAQ is up little more and leading the way like Friday's trade.
A snapshot of the market currently shows:
- Dow industrial average +14.79 points or 0.04% at 35104.45
- S&P index up 5.34 points or 0.12% at 4505.88
- NASDAQ index up 42.82 points or 0.30% at 14140.82
- Russell 2000 up 1.566 points or 0.08% at 2003.92
Looking at the hourly chart, the NASDAQ index is trading above its 100 hour moving average at 14015.45 after pushing back above that level on Friday. On the topside, watch the highs from Thursday and Friday between 14207 up to 14222, and the 38.2% retracement of the move down from the November 22 high comes in at 14274.55 (see hourly chart of the NASDAQ below).
