S&P and Dow close above 200 day MAs. Phew (says the longs)

The US stock indices are going out with solid gains in an up and down session. A late day rally on the back of comments from the White House that there was no action planned on Amazon, helped to push the major indices higher. That rise pushed the S&P and Dow away from their key 200 day MAs.

Recall that yesterday, the S&P closed below the 200 day MA for the first time since June 2016.

Today the price traded above and below that MA until the late day rally, pushed the price comfortably above the key MAs. For the S&P, the index is closing at 2614. The 200 day MA is at 2590.

The Dow's 200 day MA was also in jeopardy. Its MA came in at 23,436 today and the low got within sniffing distance at 23,664. The index is closing at 24,033.

"Phew!", says all the longs out there.

A summary for the day shows:

  • The S&P closed up 32.56 points or 1.26% at 2614.45. The low reached 2575.49, while the high extended to 2619.14. The key 200 day MA is at 2590.67.
  • The NASDAQ composite index is closing up 71.162 points or 1.04% at 6941.28. The high reached 6963.71 while the low extended down to 6835.23.
  • The Dow closed up 389.17 points, or 1.65% at 24033.36. The high reached 24044.35, while the low extended to 23664.33