Nasdaq stretches gain to 0.8% and is on track for eighth straight increase

<p>Yesterday, even as Treasury yields rose, US stocks held a bid. In hindsight that was a tell as today a fall in yields and oil has inspired fresh bids in stocks, led by mega-cap tech.</p><p>The Nasdaq Composite is up 0.8% and at the best levels since October 12. It's the eighth straight day of gains in the index but it will take another 1% rally to get above the October high.</p><p>Given the resistance just above and overbought conditions, I don't think now is the time to chase this rally but you can't rule out a FOMO driven squeeze.</p>

This article was written by Adam Button at www.forexlive.com.