The major US stock indices are holding onto their gains after three days of the declines.
The NASDAQ index is the best performer with a gain of close to 2%. The Dow industrial average is up 1.27% and the S&P index is between those two.
For the S&P index it has moved back above its 200 day moving average near 4465 area. Staying above that moving average and closing above would tilt the bias back to the upside.
The Dow industrial average, it moved up to test its 200 day moving average at 35047.92. The high price today has reached 35047.79.
The NASDAQ index remains well below its 200 day moving average at 14736.59, but the gain of near 2% has taken the price back above its 100 hour moving average near 14026.20. Stay above would be more bullish and have traders looking toward the 200 hour moving average currently at 14335.06. Recall from last week, the price moved up to test that 200 hour moving average, only to find sellers leaning against the technical level.
