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US stock indices close the day near session highs

For the first quarter, the NASDAQ index led the way with an oversized gain of 16.77%. This is the largest percentage increase since the 2nd quarter of 2020, when the index rose 30.63%. You have to go back to the first quarter of 2012 to have the second biggest percentage gain for the quarter.

Looking at the NASDAQ daily chart, the price is within 49 points of the most recent highs dating back to September 12, 2022 and February 2, 2023 near 12670.

A move above this double top would lead traders to aim for the 38.2% retracement of the move down from the all-time high on November 22, 2021. This retracement level comes in at 12427.97.

NASDAQ indexes within 50 points of double top at 12270


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