After the major US stock indices tumbled on Monday with declines of -2.5% and greater, the last two trading days have seen solid gains. Today’s move was helped by hopes for turf reprieves and from comments from Pres. Trump that he does not going to fire “Too Late” Powell.
Looking at the major indices
- Dow industrial average closed up 419.59 points or 1.07% at 39606 hello hello no home theater so current area is measured the youngest charts you capture
- S&P index rose by 88.08 points or 1.67% at 5375.84
- NASDAQ index was the biggest winner with a gain of 407.63 points or 2.50% at 16708.05
- Russell 2000 rose by
Despite the gains, there is some concern from a technical perspective. Both the S&P and the NASDAQ indices peaked near their 200-hour MAs and backed off. Those moving averages will be key going forward. Moving above is needed to increase the bullish bias.
The price for the S&P has not traded over its 200-hour moving average since February 24th.
For the NASDAQ index you have to go back to February 21st.
This article was written by Greg Michalowski at www.forexlive.com. Technical Analysis Read More