The major US indices are closing higher led by the NASDAQ and S&P indices which both closed up 1.36% on the day.
The final closing levels are showing:
- Dow industrial average up 397.80 points or 1.18% at 34098.11
- S&P index up 53.62 points or 1.36% at 4003.57
- NASDAQ index up 149.91 point or 1.36% at 11174.42
- Russell 2000 rose 21.2994 points or 1.16% at 1860.44
Looking at the S&P index, it continues to trade between the 100 day moving average below at 3913.76, and the 200 day moving average above which is down to 4062.19. Back in August, the price tested the 200 day moving average and found willing sellers near 4325.28.
The 200 day moving average is lower currently making it an easier hurdle to get to and through. A break above would look toward a topside trend line which currently cuts across at 4104 and moving lower and above that, the August high near 4325.28.
S&P index moves closer to its 200 day moving average
