The Nasdaq continues to push higher and now looks to make a run towards the 100 period-SMA

The Nasdaq has continued to move higher over the past week and looks as though it is attempting to make a move towards 13,450 where the 100-period moving average and August 2022 swing highs sit. A move like this would be very good for the overall market, however, it wouldn't mean that the 'turmoil' is over as tech companies are still very sensitive to rate hikes and monetary tightening which seems unclear still in the USA. PCE data is due today at 1:30 pm UK time which could help support the last few day's price rises or could stall the rally completely. Support for the index sits at swing lows of 12,564.