Stocks trading at session highs. Broad indices trade up 1.8%.

Technical Analysis

Author: Greg Michalowski | sp

Dow up even more...

The broader stock indices area up about 1.8% on the day and trading at session highs.

The S&P is up 47 points or 1.8% at 2666.65The Nasdaq is up 127 points or 1.85% at 7000. The high reached 7005.49The Dow is up over 500 points (up 516) or 2.11% at 24700. The high reached 24739.

The S&P index on Friday tumbled to -and through the 200 day MA at 2540 area, but rocketed back higher into the close. Nevertheless, the high off the rally, stalled at the 100 day MA (blue line in the chart above, putting some doubt into the market over the weekend.

Today, however, the index has surged higher and broken back above the 100 day MA. Stay above will keep the buyers in control.

As for the Dow, the surge is being touted as the strongest 2 day gain since August 2015.  Oh how the winds sure change in the US stock market.   

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