Dow up over 200 points
The US stocks are staging a bit of a rally in the Dow and the S&P at least. Each of those pairs are trading at new session highs. The Nasdaq still lags as Apple and Amazon stilll lag.
- The S&P is trading at 2740.78 up 17.5 points or 0.64%
- The Dow is up 206 points now at 25480. The high reached 25490.
- The Nasdaq is down -28.66 points or -0.39% at 7328.
For the FAANG stocks, Apple is still down -3% as concerns about sales weighs. Amazon, Facebook and Google have their own problems after Trump said that administration is looking into antitrust violations of the giants. Netflix has moved from the red to black and is up 1.79% now.
Looking at the S&P index, the price today moved above the 100 day MA at 2727.23 and moved away. We are also trading away from the 38.2% at 2732.01. Stay above each of those levels today (and into the week), keeps the bulls more in control again. Move below, and the buyers turn back to sellers.