NASDAQ index is retesting it's 100 hour moving average
US stocks are higher across the board.
The NASDAQ index is leading the way to the upside erasing the declines seen during yesterday's trading. The index is now up 121.55 points or 0.91%. In the process, the price is getting closer to its broken 100-hour moving average at 13474.75.
Recall from yesterday, the price fell below that moving average for the first time since May 4. Will sellers lean against the moving average now? Key technical bias defining level for the NASDAQ index. Stay below is more bearish. Move above and the buyers take back short-term control.
The Dow industrial average is also higher by 160 points or 0.47%. The S&P index is up 29 points or 0.67%.
