As Adam factors out, the NASDAQ index is on tempo for its Eight consecutive day to the upside. Today, the index is up almost 1% and traits presently at 13648.41.

Technically, the current upward momentum has pushed the value of the Nasdaq index above its 100-day moving common, which presently stands at 13617.05.

It’s price noting that on October 11, the value managed to interrupt and shut above this moving common after dipping beneath it on September 21. However, the very subsequent day, the value slipped back beneath the moving common and remained there till it hit a low level of 12543.86 on October 26. Since then, there was a rebound of roughly 8.9%.

The key query now could be whether or not the value can keep its place above the moving common. Additionally, the following goal for patrons to look at for is the excessive worth from October, which is at 13714.14, and reaching this stage would supply additional confidence to patrons out there.

The broader S&P stays beneath its 100-day moving common of 4402.74 (see the blue line on the chart beneath). Its excessive worth reached 4385.15 to date as we speak. It is presently up round 13.5 factors or 0.32% at 4380. The S&P index has not been above its 100-day moving common since gapping decrease on September 21. Needless to say that stage will probably be a key barometer for each patrons and sellers going ahead.