The major US stock indices are picking up some steam to the upside. The major indices are near their highs on the day.
A snapshot of the market currently shows:
- Dow Industrial Average up 128 points or 0.3% at 33645.52
- S&P index of 21.96 points or 0.56% 3914
- NASDAQ index up 90.78 points or 0.85% at 10726.01
S&P index moves back above its 200 hour moving average
Looking at the hourly chart of the S&P index, the prices move back above its 200 hour moving average currently at 3905.43. On Monday, the price gap above the level reaching a high of 3950.57 before rotating back to the downside and closing below the moving average. The move back above – if he can stay above – would tilt the bias more to the upside once again.
