S&P and Nasdaq move above 100 and 200 hour MAs today
US stock indices are trading higher and in the process are turning the technical bias more bullish.
For the NASDAQ index, the price si up 58.7 points or 0.78% at 7645. The price has moved above the:
- 200 hour MA at 7601.53 (green line)
- 50% retracement at 7613.078
- 100 hour MA at 7621,516 (blue line)
For the S&P index, it too is trading at highs. It is up 12.76 points currently or 0.47% at 2749. In its move higher it has moved above its:
- 100 hour MA at 2740.88
- 50% retracement at 2741.73
- 200 hour MA at 2745.21.
The moves above 50% and MAs turn the bias more bullish.
