S&P/Nasdaq moves closer to 200 day MA

Technical Analysis

Author: Greg Michalowski | sp

Nasdaq has a little more room to go

The US stocks are trading near session highs and the moves have the broad indexes moving closer to their 200 day MAs

S&P index is getting closer to its 200 day MA
For the S&P, the index is up about 10 points at 2734.65. The high have in at 2735.95. It's 200 day MA comes in at 2741.76.

For the Nasdaq it is up about 52 points t 7399.27. The high reached 7402.18 so far. For that index, the 200 day MA is up at 7454.17. Admittedly, there is some room until there is a test but the price is getting closer.   

Nasdaq has some room to run, but it is also getting closer.

Each of the broad indexes moved above, and closed above, their 100 day MAs yesterday (blue lines in the charts).  Those levels are risk levels for longs looking for more upside momentum. 

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