The major US stock indices are trading higher with the Nasdaq leading the way.

The Dow is trading up 202 points or 0.68%. The S&P is up 38.3 points or 0.95% and the Nasdaq is up 138 points or 1.18%.

Looking at the Nasdaq index below, the pair move down to test the 200 hour MA into the close on Friday, but was able to stall near the MA level (at 11967.66. The open today, took the price away from that MA.

Going forward as we look ahead, staying above the 200 hour MA would give the short term bias not to the buyers. ON the topside, getting above the 38.2% of the move down from the April 29 high at 12415.17 would be a more bullish move.

Nasdaq
Nasdaq index is moving from the 200 hour MA