S&P up 1.61%, Nasdaq up 1.52%
US stocks are trading at high levels for the day. The S&P is up 1.61%. The Nasdaq is up 1.52%. This on a day that Amazon is down 9% or so.
Technically, the S&P moved above the 38.2% of the move down from the end of December high. That level comes in at 1915.23. ON Wednesday, the index stalled near this level. The price this week also moved above the 50 (at 1888.90) and 100 hour MAs (at 1898.06 currrently). The 50 hour MA is moving to the upside. The 100 hour MA is flattening. The next targets above will come at highs from Jan 14 at 1934, Jan 13 at 1950. The 50% retracement comes in at 1946.99. A move above that level is key to get and stay above.
