S&P up 0.48%. Nasdaq up 0.41%

The US major stock indices are opening the day with modest gains. The S&P is up 0.48%. The Nasdaq is up 0.41%. The Dow is up 0.49% too.

The recent pattern has been that gains are erased. So we will see what the market has in store but so far so good.

Technically, the S&P has been holding support against the 100 day MA. That MA comes in at 2123.66 and through the Fed tomorrow that MA and the 200 day MA below that at 2059.35 will be key levels for the stock market. Move below and the bias is more bearish. Stay above, more bullish. The 50 day MA at the 2168.44 level is an upside level that traders will be eyeing for a more bullish technical picture. Be aware.

In other markets today, the US debt market shows that yields are mostly n the red with the longer end moving the most (to the downside).

  • 2 year 0.7784%, unchanged
  • 5 year 1.2034%, - 2 BP
  • 10 year 1.6840%, -3 BP
  • 30 year 2.4142% -4 BP

Crude oil is trading at $42.68, -1.43% on the day.