NASDAQ index traded above the 50% midpoint
The US stocks are taking back to the upside. The Dow industrial average is up around 250 points. The NASDAQ index is up 103 points as it looks to snapped it's losing streak looking to snap its 5 day losing streak today.
Looking at the hourly chart of the NASDAQ index, the price low yesterday stalled near the 61.8% retracement and also the swing low going back to July 26. The rebound to the upside today has now taken the price above the 50% midpoint of the move up from the June 16 low to the August 16 high. That midpoint comes in at 11870. The current prices trading at 11893 up 106 8 points or 0.92%.
