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Market Insider: Nasdaq recovers tech-bubble high

by Patti Domm

The Nasdaq regained its tech-bubble high Thursday on the wings of a Fed-induced rally, but the market is likely to remain volatile even if other indexes also reach new heights.

“This a 15-year-old high. When you test levels like that rarely have I seen one sustainably and appreciably broken (without at least a minor correction first),” said John Kosar, chief strategist at Asbury Research. “Markets have a memory, and when you get to old levels, people like to buy off of old lows. People like to sell off old highs.”

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