Turns positive erasing a -130 point decline at the lows.
The Nasdaq index has moved into the green and trades at new session highs. That erased a decline of -130 points at the low.
The S&P is still down -7.77 points or -0.27%. The Dow is down -108 points or -0.42%. However both are also near the highs for the day.
Some contributions include:
- Fed’s Evan’s is open the more easing
- yields recovering from lows. Helped by a crappy auction of 10 year notes
- Japan eases restrictions on South Korean trade.
- Secretary of State Pompeo the UK’s Raab indicated desire to sign a new trade deal as soon as Brexit is complete
- Secretary of State Pompeo “hopes” for talks with North Korea to resume shortly
Technically, the price action on the 5 minute chart opened lower, could not get to teh low from Monday and started to build.
More recently, the price based at the 100 and 50 hour MA build on the gains. The earlier high for the day at 7831 is now support.