The Nasdaq indices are running to the upside continuing with the current price up 279 points or 1.45% at 19558.42. The highest price was reached in 1956.11.
Looking at the hourly chart above, the price is also approaching its 200-hourly moving average at 19571.58. The price fell below that moving average on December 30th and reached a low on January 2nd at 19117.59 before narrowing into yesterday's close.
Today the price went higher and has been pushed to new highs off better economic data.
The price just made another run to the highs to a new high of 19565.15.
Can the trend continue with a move back above its 200 hourly moving average? Or will sellers take advantage of the technical level to make some sales on the higher path today?
Risk can be defined and limited against the MA level. The rate is a key barometer for both buyers and sellers today and in the future. .
