S&P tests 100 hour MA
The US stocks have had a strong run higher and remain near the highs with about an hour left in the trading day.
For the S&P index, the index price is up 35.74 points or 1.3% at 2779.04. The pair is testing its 100 hour MA at 2781.02. Earlier in the day, the price moved above its 200 hour MA. On Friday, the price moved below the 200 hour MA for the first time since Jnauary 14th. That break was shortlived (only one day). A move above the 100 hour MA would be more bullish.
For the Nasdaq, the price has been able to gap above its broken 200 hour MA and moved above the 100 and 50 bar MA at 7513-17 area. The current priceis at 7547, up 139 points or 1.88%. Big day higher for the tech stocks.
