US major stock indices staging a comeback. Prices are down on the day but erasing losses.

The major US stock indices Indices Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Read this Term are staging a comeback after sharp declines that saw the:

• Nasdaq down over 2.38%.
• Dow down -1.42%
• S&P down -1.79%

Currently the:

• NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term is down -1.29%
• Dow is down -0.65%
• S&P is down -0.9% over the last 2 days saw the price extend toward the 38.2% retracement

Looking at the S&P index on the hourly chart above, the rally on Monday and Tuesday saw the price extend toward the 38.2% retracement of the move down from the September high. That level came in at 3787.27. The high price reached 3791.92 yesterday. The price rise yesterday also saw the index move back above its 100 hour moving average for the 1st time since September 12.

Today with the gap lower, the price moved back below that 100 hour moving average, but has since rebounded back above the moving average level currently at 3750.07 (see blue line in the chart above).

In the short-term the moving average will be the barometer for bullish and bearish.

• Stay above is more bullish with the 38.2% retracement at 3787.27 the next target.
• Move below and traders will start to look back toward the the lows for the day at 3722.66, and a swing area near 3718. Break below that level and traders will start to retarget the low near 3584.13 as buyers start to give up once again.