S&P and Nasdaq lead the charge
The Trump tariffs on steel and aluminum (with exemptions) were signed, and the stocks were pushed higher into the close. The broader indices led the charge.
- The S&P index rose 0.45% or 12.17 points to 2738.97. The low for the day extended to 2722.65.
- The Nasdaq rose 0.42% or 31.296 points to 7427.945. The low reached 7391.50 on the day.
- The Dow rose 0.38% or 93.85 points to 24895.21. The low for the day was down at 24703.
Technically, the S&P is closing above its 100 and 200 hour MAs which is more bullish. They come in at 2725 and 2729 respectively. That is more bullish.
What gives some cause for pause with the bullishness technically, is the 50 day MA on the S&P comes in at 2739.84. The price closed just below that level today.
Tomorrow will be a key. Get above would be more bullish on the daily chart (n addition to the hourly bullishness).
