S&P index moves back toward the session high

Technical Analysis

Session high at 2818.14

The S&P index is moving back toward the session high reached in the 1st hour of trading at 2818.14 (see 5 minutes chart below). The high just reached 2816.55.

Him Session high at 2818.14

The move to the upside has also taken the price back above intraday moving average levels including the 50 bar moving average and the 100 and 200 bar moving averages on the same 5 minute chart (white, blue, green moving average lines). Staying above those moving averages would be more bullish going forward.  Moving below would muddy the waters intraday as we head into the close.

The NASDAQ index has moved to a new session high at 8573.313. The index currently trades at a 572.66 just off that high level.

The Dow industrial average lags behind with a gain of 95.21 points or 0.4% at 23611.60. It’s high price came in at 23717.89 earlier in the session.

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