Moving back toward top of trading range...
The S&P index is trading at the highs for the day and in the processs is back toward the highs of the range trading since January 4th. The index is trading at 2276.50 up about 11.25 points or 0.5%.
Looking at the hourly chart below, the index has been chopping up and down since January 4th with the low at 2254 and the high at 2282. Closer highs stalled the pair at 2278.79/2279.20. That is the next targets on the topside. The all time high comes in at the 2282.10 level.
The bullish story has the index stalling near the 50% of the move up from the end of the year low. On Wednesday and Friday, the price lows seemed to find willing sellers buying the dip.
The Nasdaq composite index is trading up about 25 points or 0.45%.The Dow is trading up about 100 points or 0.51%.
So overall, solid gains in the US stocks with 3 hours to go in the trading day.