Dow leading the way today. S&P and Nasdaq up marginally
The major US indices are all trading at new records, led by the Dow industrial average.
The Dow is up 119 points at 29026.35. The high price reached 29031.30. The high from Friday straight reached up to 29009.07 and backed off.
The S&P index is up 1.12 points or 0.03% at 3289.28. The high price extended to 3289.79. Yesterday the index closed at a record level. So any positive gains today would be a new record close. The high price from yesterday reached 3288.13. We have extended to new intraday high as well.
The NASDAQ index also closed at a new record yesterday it is currently trading at 9277.67, up 3.7 points or 0.04%. The high price extended to 9280.18. The high price from Friday reached 9274.49. Like the S&P, the high today has extended to new all-time intraday highs.
Taking a technical look at the hourly chart for the Nasdaq, the price has been above its
- 200 hour moving average since December 3 when it took a brief peek below the moving average line (one bar). Prior to that you have to go back to October 18 (that's a long time ago).
- The price has been above its 100 hour moving average since December 6, and
- Above its 50 hour moving average since January 6. The 50 hour moving average is currently down at 9149.89. It would take a move below that moving average (and stay below) to hurt the bullish bias.
