Nasdaq trades to a new session high

The Nasdaq has moved to a new session high and in the process is pushing closer to the 50% midpoint of the move down from the all time high. That midpoint comes in at 14383.79. The high price has reached 14308.82. A move above that level is a step in a more bullish direction.

On the move to the upside, the price has moved above a swing area between 14163 and 14211. That level will now be close support going forward. The prices trading above and below that area today, but traders have rebounded the index back above the area, and I would expect that if the buyers are serious about the break, the index should stay above.

Get above the 50% retracement and traders will look toward the highs from February near 14504.82. Above that and the falling 100 day moving average at 14660.02 would be targeted (blue line in the chart above).

Helping the market is signs of a cease-fire in the Ukraine war.

In other markets,

•  Crude oil 
  Crude Oil
  
  Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, and impact of politics stemming from OPEC. Short for the Organization of the Petroleum Exporting Countries, OPEC operates as an intergovernmental organization of 13 countries, helping set and dictate the global oil market.How to Trade Crude Oil Crude oil is most commonly traded as an exchange-traded fund (ETF) or through other instruments with exposure to it. This includes energy stocks, the USD/CAD, and other investing options. Crude oil itself is traded across a duality of markets, including the West Texas Intermediate Crude (WTI) and Brent crude. Brent is the more relied upon index in recent years, while WTI is more heavily traded across futures trading at the time of writing. Other than geopolitical events or decisions by OPEC, crude oil can move due to a variety of different ways.  The most basic is through simple supply and demand, which is affected by global output. Increased industrial output, economic prosperity, and other factors all play a role in crude prices. By extension, recessions, lockdowns, or other stifling factors can also influence crude prices. For example, an oversupply or mitigated demand due to the aforementioned factors would result in lower crude prices. This is due to traders selling crude oil futures or other instruments.  Should demand rise or production plateau, traders will bid increasingly on crude, whereby driving prices up.
  
  Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, and impact of politics stemming from OPEC. Short for the Organization of the Petroleum Exporting Countries, OPEC operates as an intergovernmental organization of 13 countries, helping set and dictate the global oil market.How to Trade Crude Oil Crude oil is most commonly traded as an exchange-traded fund (ETF) or through other instruments with exposure to it. This includes energy stocks, the USD/CAD, and other investing options. Crude oil itself is traded across a duality of markets, including the West Texas Intermediate Crude (WTI) and Brent crude. Brent is the more relied upon index in recent years, while WTI is more heavily traded across futures trading at the time of writing. Other than geopolitical events or decisions by OPEC, crude oil can move due to a variety of different ways.  The most basic is through simple supply and demand, which is affected by global output. Increased industrial output, economic prosperity, and other factors all play a role in crude prices. By extension, recessions, lockdowns, or other stifling factors can also influence crude prices. For example, an oversupply or mitigated demand due to the aforementioned factors would result in lower crude prices. This is due to traders selling crude oil futures or other instruments.  Should demand rise or production plateau, traders will bid increasingly on crude, whereby driving prices up.
  Read this Term is moving back toward the lows and made a new post settlement low of over 104.39. It currently trades at $104.95.
• The price of bitcoin is trading at $47,900
• The Dow industrial average is still down on the day at -50 points or -0.14%, but is near the highs as well. The S&P is also trading back near it’s highs for the day up around 15 points or 0.34% at 4558.
• US yields remain mixed. The two year is up 5.8 basis points. The five year is near unchanged. The 10 year is down -1.1 basis points.