Well....maybe not fully ragin' (we are still off all time highs), but broad indices are back above 50 day MA and recent ceilings
The stocks are off and away with a gap opening. The price action has taken the prices of the broader S&P and Nasdaq indices above their 50 day MAs and recent up and down swing level highs. Put the blame on the better tone in the US/China trade war. It looks like formal face to face talks with major trade negotiators, will resume in Washington in October.
The snapshot is showing:
- S&P index +29.25 points or 1.0% at 2967.03
- NASDAQ index +100 points or 1.26% at 8077.50
- Dow industrial average up 321 points or 1.22% at 26678
Looking at the S&P daily chart, the price moved above its 50 day moving average at 2944.99 today. It also moved above recent ceiling highs in the process.
For the Nasdaq index is also back above the recent ceiling high and 50 day moving average.
The ragin' bulls are back in control above key daily moving averages and above up and down swing highs. The bulls are back in town....
