Nasdaq surges to fresh peak, eyes record close

The NASDAQ index is extending to a new session, and in the process is on pace for a new record close. Yesterday the index closed at a record level, so anything positive would be a new record.

The index erased a -74.91 point decline at session lows today. The high put the price up 24.03 points. The current price is up 21.18 points or 0.13% at 16816.46.

Looking at the 4-hour chart, the 16464.60 – 16538.86 is a close risk level for buyers looking for more upside momentum. Moving below that level would take the price below what was the ceiling area, and likely disappoint the buyers on the break of the ceiling. .

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