The NASDAQ index is currently up 300 points or 1.92%. That’s the largest percentage gain since February 22. For the training week, the NASDAQ in is now up 4.17% which represents the largest weekly gain this year and the highest since October 30, 2023.
Technically, the price is now trading above its falling 100-day moving average at 15878.60. Looking at the hourly chart, there is a swing area between 15862 and 15925 (see yellow area on the chart above). That may give traders some cause for pause.
Winners today include:
Snap, +23.44%Alphabet +9.21%Super Micro Computers +6.88%Nvidia +5.11%Snowflake +4.0%Broadcom +3.82%AMD, +3.16%Microsoft +2.74%Micron +2.80%Amazon +2.10%
The biggest loser today is Intel which is down -10.67% after disappointing earnings and for guidance. There has been a number of downgrades of the stock as well. Exxon shares after earnings are down -2.61%. Chevron shares down -0.96% also after earnings this morning.
This article was written by Greg Michalowski at www.forexlive.com.