NASDAQ index continues to surge. Now up 300 points or 1.94%.

The NASDAQ index is currently up 300 points or 1.92%. That’s the largest percentage gain since February 22. For the training week, the NASDAQ in is now up 4.17% which represents the largest weekly gain this year and the highest since October 30, 2023.

Technically, the price is now trading above its falling 100-day moving average at 15878.60. Looking at the hourly chart, there is a swing area between 15862 and 15925 (see yellow area on the chart above). That may give traders some cause for pause.

Winners today include:

• Snap, +23.44%
• Alphabet +9.21%
• Super Micro Computers +6.88%
• Nvidia +5.11%
• Snowflake +4.0%
• Broadcom +3.82%
• AMD, +3.16%
• Microsoft +2.74%
• Micron +2.80%
• Amazon +2.10%

The biggest loser today is Intel which is down -10.67% after disappointing earnings and for guidance. There has been a number of downgrades of the stock as well. Exxon shares after earnings are down -2.61%. Chevron shares down -0.96% also after earnings this morning.

This article was written by Greg Michalowski at www.forexlive.com.