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US stocks open higher. Traders will eye the 200 day moving average for the S&P index today

The major US stock indices are all opening higher and all are up about 1% in early US trading. A snapshot of the market currently shows:

  • Dow industrial average up 371 points or 1.09% at 34539
  • S&P index up 53.5 points or 1.24% at 4403.80
  • NASDAQ index up 152 points or 1.12% 13694
  • Russell 2000 up 22.45 points or 1.14% 1998.83

For the broader S&P index, yesterday the price moved back above its 200 day moving average at 4434.21, but failed on that break above and close lower. A move back above that moving average is needed to increase the bullish bias (or at least tilt the buyers more in a favorable position). The 100 day moving average is up at 4569.09 and would also need to be broken if the buyers are to take back more control.

S&P
S&P index is still below the 200 day moving average

Trading analysis offered by Complex Trader - a RobotFX partner.
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