NASDAQ index is now up over 10% from its lowsThe major US indices are cheering the bad news as good news for stocks and for Fed policy going forward.
The major US indices are cheering the bad news as good news for stocks and for Fed policy going forward. The NASDAQ index is now up 1.56%. The Dow industrial average is into positive territory now at +0.47%. The major indices are working on their 3rd consecutive day to the upside.
Looking at the NASDAQ index, it is now up over 10% from the cycle low reached on October 13. The next target comes in near the 38.2% retracement of the move down from the August 16 high at 11270.07. The October 5 high at 11124 is an interim target.
The Dow industrial average is now up over 10% as well from its October 13 low. The S&P index is up around 9.8%
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