NASDAQ RALLY

Yes, Nasdaq is the only US index, which is closed on highest price yesterday in 2014 and erased the whole six weeks sell off. The tech index now is up 0,3% so far this year. The 3.6% gain over the past four days were the best four-day streak since June 2012. There is a resistance at the previous top, but within few days it might be taken and Nasdaq will be rebounded and traded over the record highs again.

Us markets extended their four-day impressive winning streak. Yesterday Yellen couldn’t spoil the party all American indices went higher again.

• Dow 15,995 +193, 1.22% 
• Nasdaq 4,191 +43, 1.03% 
• S&P 500 1,820 +20, 1.12% 

Recently nobody discuss about emerging market concerns and the VIX index dropped from 19 down to 15 and in line with the optimism pushed higher all indices included Europeans and Asians too. The European markets rose for a fifth straight day. But the volatility has been increased and in our expectation the volatility keeps with us in the whole 2014.

The BFM Assets Team.