Technical Analysis

The major US indices close higher for the 2nd consecutive day

Stocks close near session highs

The major US stock indices are close higher for the second consecutive day. 

Some other highlights for the day/week

  • Week ends with 2 strong days higher after three down days to start the week
  • S&P has best day since late March 26th
  • All 11 sectors of the S&P close higher
  • Dow S&P NASDAQ had the worst week since February
  • NASDAQ closed lower for the fourth consecutive week
  • S&P lower for the first week in three weeks
  • NASDAQ has the best day since March 11

the final numbers are showing:

  • S&P index up 61.29 points or 1.49% at 4173.85
  • NASDAQ index up 304.99 points or 2.32% at 13429.98
  • Dow industrial average of 360.62 points or 1.06% at 34382.13

Technically, 

  • The NASDAQ index moved above intraday but is closing below its 100 day moving average of 13438.56.
  • The S&P index closed just above its 100 hour moving average at 4173.67. The closing level for the S&P was at 4173.85
  • The Dow moved back above its highest hourly moving average (the 50 hour MA) at 34358.48. The index is closing at 34382.13.

For the week:

  • S&P index fell -1.39%
  • Dow fell -1.14%
  • Nasdaq fell -2.34%

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