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Nasdaq 100 extends gains above 16,500

The Dow Jones is still in the red this afternoon, but not so the Nasdaq 100. Indeed the divergence between the two indexes has been in place since the opening today and now the Nasdaq has risen further. The drop in US yields is helping the Nasdaq 100 as much as it is sending the dollar in the opposite direction right now. So, the Nasdaq 100 has now risen above 16,500. The high seen a moment ago was set at 16,512. That means the index has made a move closer to a potential test of its noted 21 day moving average (now in place at 16,549). It has just backed away from that 16,512 high now though, currently trading at 16,494

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