Major indices all up over 1%
The US major stock indices are all trading above 1% on the day:
- S&P index, +1.33%
- NASDAQ index, +1.57%
- Dow industrial average, +1.05%
Looking at the daily charts of each, the price action this week took the price below the hundred day moving averages, but prices have been able to stay above lower 200 day MAs as well. We currently trade between those technical levels in each.
S&P
For the S&P this week, the low yesterday stalled just ahead of the lows from last week (for August). The 200 day MA is down at 2790.90. The 100 day moving averages about 2906.92. We currently trade at 2886.13
Nasdaq
For the Nasdaq, like the S&P, the low for the week yesterday fell short of the lows from earlier in the month and was well above its 200 day moving average at 7576.474. The 100 day moving averages about 7944.788. We currently trade at 7890.07 (high reached 7903.148 today).
Dow
The Dow this week did make a new August low in trading yesterday and also fell below its 200 day moving average at 25596.44. However, today's move higher has taken the price back above that key moving average level. The 100 day moving average is still a distance away at 26298.37.
