NASDAQ index leads the way higher for the major indices

The NASDAQ index is leading the way for the US major stock indices. A snapshot of the market currently shows:

• Dow Jones +618 points or 1.89% at 33250.93
• S&P index +93.77 points or 2.25% at 4264.46.
• NASDAQ index up 368.95 points or 2.88% at 13164.50.
• Russell 2000 up 51.68 points or 2.63% at 2014.69.

Looking at the hourly chart of the NASDAQ index, the price rise has seen the index move above the February 24 swing low at 13094.65, but stall ahead of a another swing area at 13236.56. It would take a move above that swing area to increase the bullish bias/momentum. The falling 100 hour moving averages currently at 13464.39. That would be the next major target on the topside.

The low price from yesterday reached 12674.75. That what that low stalled ahead of the February 23 low at 12587.88. The inability to move below that level has helped the buyers a bit.

However ultimately getting above the 100 hour moving average and then above that the 200 hour moving average (currently at 13751.02 – green line in the chart above), would be needed to tilt the technical bias more to the upside.

The 200 hour moving average on the  NASDAQ 
NASDAQ

The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since assumed the majority of major trades that had been executed by the over-the-counter (OTC) system of trading.What Makes Up the NASDAQ?In particular, the exchange also features the NASDAQ Composite, which includes almost all stocks listed on the NASDAQ stock market. Along with the Dow Jones Industrial Average (DIJA) and S&P 500 Index, this is one of the three most-followed stock market indices in the United States.Overall, the NASDAQ stock market has three different market tiers. This includes the Capital Market, or an equity market for companies that have relatively small levels of market capitalization. The listing requirements for small cap companies are less stringent than for other Nasdaq markets that list larger companies with significantly higher market capitalization.Additionally, the Global Market is made up of stocks that represent the Nasdaq Global Market. The Global Market consists of 1,450 stocks that meet the exchange’s financial and liquidity requirements, and corporate governance standards.Finally, the Global Select Market is a market capitalization-weighted index made up of 1,200 US-based and international stocks that represent the Global Select Market Composite.

The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since assumed the majority of major trades that had been executed by the over-the-counter (OTC) system of trading.What Makes Up the NASDAQ?In particular, the exchange also features the NASDAQ Composite, which includes almost all stocks listed on the NASDAQ stock market. Along with the Dow Jones Industrial Average (DIJA) and S&P 500 Index, this is one of the three most-followed stock market indices in the United States.Overall, the NASDAQ stock market has three different market tiers. This includes the Capital Market, or an equity market for companies that have relatively small levels of market capitalization. The listing requirements for small cap companies are less stringent than for other Nasdaq markets that list larger companies with significantly higher market capitalization.Additionally, the Global Market is made up of stocks that represent the Nasdaq Global Market. The Global Market consists of 1,450 stocks that meet the exchange’s financial and liquidity requirements, and corporate governance standards.Finally, the Global Select Market is a market capitalization-weighted index made up of 1,200 US-based and international stocks that represent the Global Select Market Composite.
Read this Term index has stalled the last two rallies on February 10 and again on March 3. Hence the moving averages importance from a technical perspective.