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An up, down, up start for the Nasdaq 100 so far today

The US stock markets have been open now for around an hour and it has been a pretty volatile first hour too. The Nasdaq 100 opened higher today, at 18,114. It had closed last night at 18,068. The index lifted immediately to 18,142, but very soon  that gain evaporated and it fell back to a low at 17,956. The reason for that was seemingly a further rise in those US yields. The 10 Year note rose by more than 9bp at one stage and that sent the dollar to session highs versus all its major counterparts. That dynamic forced all the major US stock markets lower and the Nasdaq was front and centre in that reaction. However it is now bouncing back, irrespective of those higher US yields. It is quite a sporadic session so far and perhaps we are likely to see yet more swings as the session develops. The Nasdaq 100 is currently trading at 18,077 and we shall see which strategy will winout by the close- sell the rally or buy the dip?

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