Nasdaq pushes back higher and looks to test the key retracement once again

Jul 28, 2022
Nasdaq pushes back higher and looks to test the key retracement once again

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Nasdaq erases declines and pushes towards 38.2% retracement

The  Nasdaq  has retraced the transfer decrease and has made a brand new excessive for the day because the patrons and sellers proceed the battle.

The run again to the upside has additionally returned to, and now by means of, the July 22high (at 12093.02), and is inside sniffing distance of the 38.2% retracement from the March29 excessive as nicely at 12124.37. The excessive simply reached 12104.58.

If the worth can get and keep above the 38.2% retracement it might be excellent news for the patrons. The swing excessive from June 2 at 12320.12 can be the subsequent upside goal.

First issues first, get above the 38.2%. Key goal to get to and thru to show the patrons have the conviction to maneuver larger.

The Dow Jones up 224 factors or 0.7% at 32422 and the S&P is up 30 factors or 0.75% at 4054. The Russell 2000 is up 13.14 factors or 0.71% at 1861.

US yields stay down however off there lowest ranges:

  • 2 12 months, 2.887% with a low for the day of two.818%
  • 10 12 months 2.683% with a low for the day at 2.619%
  • 30 12 months 3.001% with a low for the day at 2.970%

The JPY stays the most important gainer on the day. The USDJPY is down -1.58% on the day. The EURJPY is the most important mover with a decline of -1.95%. The AUDJPY is down 1.88%.

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