Nasdaq back above its 50 day MA
The US stocks are trading to new session highs with the Nasdaq still leading the way. Looking at that index, the pair is up 150 points at 7892.18. That is new highs for the index.
Technically the price is back above its 50 day MA at 7859.46. The pair moved below its 200 day MA last week at 7517.54 currently (green line) on it's way to a low at 7292. The index moved back above its 200 day MA on Wednesday. It tested the underside of the 100 day MA on Thursday, and moved above that MA on Friday. Today the march continues with the break of the 50 day MA. That MA is now close risk for longs....
- The S&P is up 31.25 points or 1.09% at 2904.73
- The Dow is up 223 points or 0.86% at 26207.33.
