S&P and NASDAQ test hourly moving averages

Technical Analysis

Author: Greg Michalowski | sp

NASDAQ test the 50 hour moving average. S&P test 100 hour moving average

The S&P and NASDAQ index moved to new session highs.

S&P index reaches its 100 hour moving average
The S&P index reached 4173.43, while the NASDAQ index reached 13406.86.

At the highs, the indices were testing key hourly moving averages.

Looking at the S&P index, the 100 hour moving average comes in at 4173.90. The high price just reached 4173.43.

For the Nasdaq, its 50 hour moving average comes in at 13411.57. The high price just reached 13406.86.  

NASDAQ index tests its 50 hour moving average

Key area on the hourly charts for each broad indices. That may put a lid on the rally for now at least with a break above potentially leading to stops being triggered.   
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