Re-approaching 200 hour MA
The NASDAQ index has moved to a brand new session excessive of 13526.09. That acquired inside about 6 or 7 factors of unchanged on the day which is a far cry from the low worth of 13003.98. On the low, the NASDAQ index was down some -529 factors on the day or -3.91%. The present worth is buying and selling down round 30 factors or -0.22% at 13502.
Ought to the value continued to maneuver greater, the pair would strategy the 50% midpoint of the transfer up from the February 1 low of 12985.05. That low was approached as we speak however fell 18 factors shy of the extent. The midpoint stage is available in at 13580.08.
Simply above that’s the 200 hour transferring common at 13596.887. The 200 hour transferring common will probably be a key stage for as we speak, and going ahead. Apart from 3 hourly bars on January 29, the value has not traded extensively under its 200 hour transferring common for the reason that finish of October into early November. Conversely a transfer again above the 200 hour transferring common would disappoint the sellers/bears.
The S&P index is now optimistic by about 17 factors or 0.44% at 3893. The low for the S&P reached 3805.59, or -1.83%
The Dow industrial common is up 116 factors or 0.37% at 31637.36. The low for the
Dow reached 31158.76 or -1.15%.
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