The NASDAQ index is up over 520 points. The price is currently up 520 points or 3.04% at 17667. The NASDAQ is above its 50-hour moving average and also stretching above the 38.2% retracement of the last move lower at 17647.85. On the topside, the 100-hour moving average and 50% retracement are near 17840.
Meanwhile, the S&P index is back above its 100-hour moving average at 5537.90.
After the close, some of the earnings:
Arm (ARM)Qualcomm (QCOM)Carvana (CVNA)Lam Research (LRCX)Western Digital (WDC)
3:08 PM ET: The dollar is moving a little lower:
EURUSD is above the 200 day MA at 1.0818 but below the 100 hour MA at 1.0834USDJPY: The USDJPY is back below the 50% of the move up from December low at 151.09. The current price trades at 150.29. Next support at 150.00 followed by a swing area at 149.20 to 149.65GBPUSD is now back above the 100 hour MA at 1.28522. Staying above is more bullish. The current price is at 1.28612. On the upside the 200-hour moving averages at 1.2880.
And as the Fed Chair finishes, the stocks give up some of the gains.
S&P is up 87 points or 1.61% at 5523.60. The asset is up 461 points or 2.70% at 17611.27.
This article was written by Greg Michalowski at www.forexlive.com.
