NASDAQ index moves to new all-time intraday high ...Middle East

That said, the bigger test for sellers lies with the moving averages. On the hourly chart, the index fell below its 200-hour moving average (green line) last Tuesday during a downside gap, but buyers quickly reclaimed the level the very next day, frustrating bearish momentum and fueling further gains. Similar failed breakdowns occurred earlier in August: from August 20–22 and again on August 1 (after the U.S. jobs report), where price slipped below the 200-hour average only to rebound swiftly.

Some winners today include:

Broadcom (AVGO) +3.81%

Palantir (PLTR) +2.89%

Synopsys (SNPS) +2.70%

GameStop (GME) +2.63%

Live Nation Entertainment (LYV) +2.30%

Tencent (TCEHY) +1.84%

CrowdStrike (CRWD) +1.81%

Adobe (ADBE) +1.79%

DoorDash (DASH) +1.68%

Palo Alto Networks (PANW) +1.64%

This article was written by Greg Michalowski at investinglive.com.

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