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Nasdaq rebounds off the lows. Back above the 50 day MA…


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…but the high intraday is still yet to be reached

The US stocks are staging a comeback off the lows, but the price of the major indices remain below intraday highs and also well below the 0.0% unchanged line.
Looking at the Nasdaq index, the intraday high for the day comes in at 7873.98. Another level is at 7897.61 area. That level corresponds with the May 7th and the April 9th lows.   
If the price can get above each, things will look better.  


PS, The price is back above the 50 day MA at 7835.52. That is helping the intraday tone a bit too.  A move below would sour that mood.  
ForexLive

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