S&P index tests its 100 day moving average. A break above would be more bullish

The S&P equity index is currently trading up around 46 points at 4567.41. That is up about 1.03%. The high price reached 4575.85. In the process, the price briefly traded above its 100 day moving average of 4571.74. Recall from last week, the price high extended up to 4595.31, and closed at 4589.37 on Wednesday. That close was above the 100 day moving average at the time.

However, the very next day, the price opened below that key moving average, and the price retested its 200 day moving average during Friday's trade. Buyers leaned against that level and pushed price back higher.

I like saying that trading between the 100 and 200 hour moving averages is trading "between the goalposts". Ultimately, the price will break one way or the other.

The current market is back up testing the high extreme today. Move above and stay above would be more bullish. Be aware.

EUR EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term