Lots of green on the S&P heat map today
The US stocks are opening with gains. The early snap shot is showing:
- The S&P index up 15.47 points or 0.54% at 2899.45.
- The NASDAQ index is up 53.65 points or 0.68% at 7916.48
- The Dow industrial average is up 110.61 points or 0.43% at 26117.68
The S&P index has just reached a high of 2901.72. That is just short of its 100 day moving average at 2902.84. Key level for the buyers. A move above will have the 50 day moving average at 2933.13 as a target.
For the NASDAQ index its 100 day moving average comes in at 7933.44. The high price just reached 7926.02 before backing off.
Keep the 100 day MAs in mind for trading today. It will take moves above to shake more of the bearish cobwebs from the US equities. Staying below, however, will have traders thinkng that the correction higher is over.