S&P moves above 200 hour MA. 50 and 100 day MA are the next key technical targets

Technical Analysis

Author: Greg Michalowski | sp

Netflix earnings are out after the close

The US major indices are trading at new session highs.
  • The S&P is trading up 27.39 points or 1.03% at 2683.84. 
  • The Nasdaq is trading up 65 points or 0.91% at 7171.
  • The Dow is up 300 points or 1.23% at 24655
For the S&P it moved above its 200 hour MA at 2681.85.  The price moved below that MA (green line on the chart above) on March 21 and has not traded above since that day.

The index is also moving toward the 50 day MA at 2687.02. That is the next target. The 100 day MA is up at 2699.28. Both those MAs will be key targets to get to and through.

It is being reported that Amazon has shelved plans to sell drugs to hospitals. The price of Walgreens is currently up 4.28% on the news and CVS is also up 4.29%.  

Netflix will release their earnings after the close. 

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