NASDAQ index price tests its 100 & 200 hour moving averages
The NASDAQ index is currently trading up around 450 points or 2.94% at 15672. The high price just reached 15684.95. At the high the index tested its near converged 200 and 100 hour moving averages.
- The 200 hour moving average comes in at 15684.47
- The 100 hour moving average comes in at 15687.01
The high price stalled between those levels and has backed off modestly on profit taking.
Going forward it would take a move above both (and stay above) to increase the bullish bias. Absent that break and the 50% midpoint of the move down from the all-time high in November is support at 15571.64.
