Small gains for the major indices
The US stocks are in the midst of an up and down day, with the most recent move more to the upside. The major indices are trading above the unchange level, with the S&P index and Dow leading the way
- The S&P index is up 4.84 points or 0.16%
- The NASDAQ index is up 4.41 points or 0.05%
- The Dow industrial average is up 38.79 points or 0.14%
Technically, the S&P index is trading right around its 100 hour moving average at 3117.48 (blue line in the chart below). A move above would target the 50 hour moving average at 3123.42.
For the NASDAQ index it too is trading right around its 100 hour moving average at 8567.58. The current prices just above that level.
Overall it seems, the market is looking for a shove one where the other. Either there is a move above the 50 hour moving average and the downside is forgotten or the price starts to move away from the 100 hour moving average in the downward direction. Perhaps the unemployment report tomorrow will give the catalyst for a move one way the other.
