New high for the Nasdaq as the last hour of trading is underway

Technical Analysis

Nasdaq up 3.10%

The NASDAQ index is just reached a new session high at 8522.746. The current price is at 8519.29 up 3.1%.

NASDAQ index is trading between its 100 day moving average above and 50 day moving average below

The low today reached 8404.543.

The pair high from Monday and Tuesday stalled near the 100 day moving average (blue line at 8674.57 currently).  The 61.8% retracement of the move down from the all-time high in February comes in at 8613.316.  Those remain upside targets.

The 200 day moving average at 8409.729 is a barometer for the downside/bears.  Move and close below that level, and then the 50 day moving average at 8297.29 will increase the bearish bias once again.  

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