NASDAQ index extends to a new high for the year (and going to August 2022)

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 has pushed higher. It leads the way with a gain of about 0.53% (up 67 points at 12724.16 currently). Meanwhile, the S&P is near unchanged at 0.07% while the Dow industrial average is down -0.36%. The high price for the NASDAQ reached 12739.00. That took out the high price from Friday's trade at 12731.73. The new high is the highest level going back to August 19, 2022.

Looking at the daily chart above, the price last week extended above the 38.2% retracement of the move down from November 2021 all-time high to the low reached in October 2022. That retracement level comes in at 12427.97.

The S&P index trades at 4195.86. That is just below the natural resistance level Resistance Level A trading resistance or resistance level reflects a given price that acts as a temporary ceiling for an asset. In its most basic form, this level pressures an asset’s price from rising above it, either acting as an outright barrier or exerting pressure in doing so.This pressure is due to a growing number of sellers who wish to sell at the particular price at a defined resistance level. Resistance levels can either be temporary constructs, longer-lasting ones, or purely psychological. As a result A trading resistance or resistance level reflects a given price that acts as a temporary ceiling for an asset. In its most basic form, this level pressures an asset’s price from rising above it, either acting as an outright barrier or exerting pressure in doing so.This pressure is due to a growing number of sellers who wish to sell at the particular price at a defined resistance level. Resistance levels can either be temporary constructs, longer-lasting ones, or purely psychological. As a result Read this Term at 4200. The 100-week moving average for the S&P index is at 4200.15 increasing the levels importance from a technical perspective