S&P index closes above its 200 day MA for the first time since December 2018

Technical Analysis

Author: Greg Michalowski | sp

Solid gains for all the major indices

The major indices are closing higher today with the S&P closing above it's 200 day MA for the first time since early 2018. The Dow snapped a 4 day losing streak. 

The final numbers are showing:
  • The S&P index rose 34.93 points or 1.29% at 2744.73. The 200 day MA comes in today at 2743.35.  The high reached 2748.19
  • The Nasdaq closed up 106.71 points or 1.46% at 7414.61. The high reached 7419.43. The low extended to 7349.80
  • The Dow rose 372.65 points or 1.49% at 25425.76. The high reached 25458.98.
The rise today came on the back of hopes that the goverrnment would avert a shutdown and on hopes that as the clock ticks to the March 1st deadline for a China/US deal, that there will be some progress and perhaps a delay in the tariff hike if deemed that a deal is forthcoming.  

Disney and McDonalds were the only Dow decliners today. The biggest Dow gainers were:
  • Caterpillar, up 2.88%
  • 3M, up 2.8%
  • DuPont, up 2.6%
  • Intel, up 2.54%
  • United Health, up 2.46%
  • Merck, up 2.35%
Some high flying winners today included:
  • Micron, up 4.72%
  • Netflix, up 4.12%
  • Nvidia, up 3.22%
  • Amazon, up 2.95%
  • Alphabet, up 2.41%
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