Technical Analysis

Major indices erase declines. Nasdaq getting closer to 100 day MA


The major indices have erased declines, and the major indices are back in black.

Technically, the S&P is back above its 200 day MA at 3981.17. The price is at 3988 currently.

The Nasdaq is getting closer to its 100 day MA at 11057.39. The high today just reached 11043.59 (within 14 points of the MA level). The price moved above the 100 day MA back on December 13, the day of the CPI, but quickly reversed. Its 200 day MA is still higher at 11633.81 (+5.22% from current levels).

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