Technical Analysis

Stocks extended gains as Waller comments are less hawkish than feared



<p>The major stock indices are moving higher led by the NASDAQ which is up nearly 2% as Feds Waller's comments are less hawkish than a feared.</p><ul><li>Dow Industrial Average is up 155 points or 0.47% at 33199.71</li><li>S&P is up 48.24. or 1.24 percent at 3947.01</li><li>NASDAQ index is up 213.41 points or 1.96% at 11065.32</li></ul><p>The NASDAQ index is back above its 100 day moving average at 11001.93. It is still well below the high price reached on Wednesday at 11223.41. Stay above the 100 day moving average keeps the buyers and play for more upside potential. The 38.2% retracement comes in at 11270.07 of the move down from the August high. The 200 day moving averages currently at 11566.56. That is close to the swing high for December at 11571.64.</p>

This article was written by Greg Michalowski at www.forexlive.com.

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