The major US stock indices are trading to new session highs with the NASDAQ index leading the way with a gain of 1.5%:

• Dow industrial average up 300 points or 0.90% at 33637.34
• S&P up 49.28 points or 1.17% at 4256.50
• NASDAQ index up 188.46 points or 1.48% at 12969
• Russell 2000 up 31.11 points or 1.58% the 2006.37

The intraday high from yesterday’s trade in the NASDAQ index reached 13026.24. The high price today has reached 12974.60 so far. A move above that high would have traders targeting 13086 – 13199 area (swing area). Above that the 50% retracement of the move down from the November 2021 high cuts across at 13388.68. It’s 200 day moving average is up at 13509.17.