Technical Analysis

S&P/Nasdaq strikes nearer to 200 day MA

Nasdaq has a bit extra room to go

The US shares are buying and selling close to session highs and the strikes have the broad indexes shifting nearer to their 200 day MAs

S&P index is getting closer to its 200 day MA

For the S&P, the index is up about 10 factors at 2734.65. The excessive have in at 2735.95. It is 200 day MA is available in at 2741.76.

For the Nasdaq it’s up about 52 factors t 7399.27. The excessive reached 7402.18 to date. For that index, the 200 day MA is up at 7454.17. Admittedly, there may be some room till there’s a check however the worth is getting nearer.   

Nasdaq has some room to run, but it is also getting closer.

Every of the broad indexes moved above, and closed above, their 100 day MAs yesterday (blue traces within the charts).  These ranges are danger ranges for longs on the lookout for extra upside momentum. 


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