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Nasdaq/S&P turn positive


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The border stock indices move back in the black

after tumbling on the ISM nonmanufacturing data and moving below its 200 day moving average for the 1st time since June, the Nasdaq has snapped back, and now trades positive on the day and making new highs on the day. The low for the day reached 7700.00 (a nice round number). The hi has just reached 7810.766.  That is a 110 point rebound.


The 38.2% retracement of the move down from the recent hi comes in at 7838.477 (see 5 minutes chart below).

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