The major U.S. stock indices are reaching new session highs, with each index on a three-day winning streak. The NASDAQ is leading the pack with an solid 1% gain. Here is a snapshot of the current market performance:
- Dow Jones Industrial Average: Up 228 points, or 0.70%, at 33,087.50
- S&P 500 Index: Up 32.30 points, or 0.80%, at 4,083.07
- NASDAQ Composite Index: Up 124.53 points, or 1.04%, at 12,138.97
- Russell 2000 Index: Up 31.04 points, or 1.76%, at 1,799.41
As illustrated in the daily chart below, the NASDAQ Composite Index is pulling further away from its 61.8% retracement level at 11,999.84, which is calculated from the decline that began on August 16. The next significant milestone is the February 2 high of 12,269.55. That is also near the swing high going back to September 2022 increasing the levels important. So far this month, the NASDAQ has gained approximately 6%. For the training year, the index is up 15%. In 2022 the index fell -33.1% in 2022 from a closing level of 15645. The Nasdaq index is still over 28% from the end of 2022 high.