Nasdaq making a new high. The Golden Cross is official.
You can't keep stocks down.
The ADP and ISM non-manufacturing was less than expected but that has not stopped the Nasdaq from surging higher. iti is up 64 pointsor 0.82% and trades at a new session high at 7914.77.
For the Nasdaq, it trades at the highest level since October 4th.. The all time high comes in at 8133.29. The 8000 level is the next big level though (still some work to do to get to that level).
Of note is the 50 day MA moved above the 200 day MA recently. The so called "golden cross" was broken in the S&P earlier this week. That cross is said to be a bullish signal for the indices when triggered (FYI the opposite - when the 50 closes below the 200 MA is called the "death cross").
The S&P is trading near the day's highs as well at 2880.08.
The Dow is up 42 at 26220 after dipping to the negative after the ISM data, but is off its earlier highs at 26268.19
Chip stocks are doing well today with:
- AMD, +9.35%
- Micron, +4.91%
- Nvidia, +3.79%
- Intel, +2.3%
