US stocks open higher and look to erase the declines from yesterday

The major 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 trading higher in early US trading and in the process are erasing the declines from yesterday's trade. A snapshot of the market currently shows:

• Dow is trading up +254.21 points or 0.77% at 33244.34 after yesterdays -222.84 decline
• S&P index is up 32.04 points or 0.78% at 4164.20 after yesterdays -26.07 point decline
• NASDAQ index is 129.78 points or 1.07% at 12211.17 after yesterdays -49.74 point decline

The Russell 2000 is currently up 13.11 points or 0.70% at 1877.153

Looking at the hourly chart of 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 composite index below, the price yesterday traded above and below its falling 200 hour moving average. Today with a higher opening, the price is moving away from that moving average.

The 200 hour moving average currently comes in at 12079.51. If the price can stay above that moving average in trading today, the buyers stay more in control. The next targets would come near 12367.02 followed by the 38.2% retracement of the move down from the March 29 high. That level comes in at 12415.17.

Getting above the 200 hour moving average is a positive technical development and helps confirm a more bullish bias. If the price should move back below, all bets are off for the upside.

Conversely, a move to the upside that extends above the 38.2% retracement would add to the bullish sentiment.

After a bearish move like we have seen since the March 29 swing high, getting above the 38.2% retracement represents the minimum retracement value needed to be breached that would give buyers more confidence.

Absent that, and the correction is simply a modest correction in what is a bear market. The sellers are still winning and the buyers are still losing.