Nasdaq strikes above the 100 day MA stalled and rotated again under. S&P stalled forward of its key 100 day MA.
The Nasdaq index with lower than an hour left in buying and selling, is buying and selling increased by 76 factors or 1.08% at 7260. Strong acquire, however off the excessive at 7303.12. That top was capable of lengthen above the indexes 100 day MA at 7287.75. The lack to maintain the fireplace above that MA, could also be a warning flag.
For the S&P index, the excessive at the moment fell wanting its 100 day MA at 2712.46. The excessive at the moment reached 2708.95. Developing brief can also be a priority. The index is at present up 16.22 factors at 2697.43.
After all, we nonetheless have some key earnings releases after the shut. On faucet at the moment might be Amazon and Symantec.
Earlier than the bell at the moment, GE, UPS, Mastercard, Blackstone, Celegene, DowDupont and Altria reported (amongst others). Tomorrow, Exxon, Chevron, Merck, Cigna and Honeywell are scheduled to report.
For Amazon, the estimates are for earnings-per-share of $5.64 on revenues of 71.87 billion.
With the S&P index and Nasdaq buying and selling close to its 100 day MAs, what Amazon experiences this afternoon, might assist to tilt the bias both again down tomorrow, or proceed the run increased.
PS For the month, the main indices are definitely making up for the December swoon decrease
The Dow is up 7.04%The S&P is up 7.65%The Nasdaq is up 9.44%
Pres. Trump is speaking extra concerning the inventory market once more.