Major indices trading near highs for the day.
The major stock indices continued the run to the upside. In the process they are making progress in retracing the declines from Friday.
On Friday the
- S&P index fell -58.14 points. The index currently up 42.31 points
- NASDAQ index fell -147.99 points. The index is currently up 145 points
- Dow fell -603.41 points. The Dow is currently up 353 points
Technically looking at the NASDAQ on the hourly chart below, the index has peak above its 100 hour moving average at 9294.55. The high price just reached 9299.852. The Friday high reached 9324.79 and the high price from last week extended to 9329.11. Those would be targets on further upside momentum.
On the downside the 50 hour moving average currently comes in at 9267.77. A move back below that level may tilt the bias more to the downside on the failure to extend materially above the 100 hour moving average.
