S&P tests 50 day MA above
The major US stock indices are trading higher with the S&P up about 3 points to 2449.28. The Nasdaq is leading the way up 26.12 points or 0.42%. The Dow is up marginally (up about 8 points or 0.04%).
Note that Warren Buffett will be speaking on CNBC in about an hour. The market likes to hear what Mr. Buffett has to say about the markets and some of his favorite stock holdings (which includes Apple now - up $0.46 on the day currently).
Technically, the S&P remains above the 100 day MA below at 2423.83 (blue MA line). Last week, the price tested that MA and bounced.
On the topside, the 50 day MA is close resistance. That MA comes in at 2450.92 today. The high has so far reached 2449.92. So traders are leaning against that level - at least for now.
