Technical Analysis

S&P index trades at 4000

S&P trades to 4000

The S&P index has reached an intraday high at 4000.08. That is the first trade at that level since September 13. THe next target is the 61.8% of the move down from the August high at 4006.81. Above that and the key 200 day MA at 4081.08 will be eyed.

For the trading week, the S&P is up 6.0% which is the largest gain since 6.45% during the week of June 21. The S&P was up 6.58% during the week of May 23, and 6.16% during the week of March 14. .

The Dow industrial average is trading up around 30 points or 0.09%. The NASDAQ index is leading the way with a 222 point rise or 2.01% at 11338.71.

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