Even the small-cap Russell 2000 is which along nicely with a gain 0.80% today.
Technically, the NASDAQ index has extended to a high of 17,497.62, testing a key technical hurdle near the 50% midpoint of the decline from the December all-time high (see the chart above). A break above this level would strengthen the bullish bias.
Looking at the daily chart below, a break above the 50% midpoint would next target the 50 day moving average which comes in at 17631.45. The price has not trading above that moving average since February 21.
For the S&P index, it has closed above its 50% retracement level over the last three trading days. That level comes in at 5491.24. The next target would be at its falling 50-day moving average currently at 5613.48. The price high today reached 5571.95.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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