The major US stock indices are trading higher as investors stick it on the water. Even the NASDAQ index which tumbled over the last two days is trading in positive territory.
A snapshot of the market currently shows:
- Dow industrial average up 14 points or 0.04% at 36419.22
- S&P index up 17 points or 0.37% at 4717.90
- NASDAQ index up 57.8 points or 0.37% at 15156.50
- Russell 2000 up 17.85 points or 0.81% at 2211.89
Looking at the hourly chart of the S&P below, the price trades between its 100 and 200 hour moving averages. The 100 hour moving average comes in at 4727.21. The 200 hour moving average comes in at 4681.86. With the price currently trading between those levels, traders will look for a break with momentum to give a clearer picture of the directional bias.
S&P index trades between 100 and 200 hour moving averages
