Yesterday,
- Dow industrial fell -215.64
- S&P index fell -32.31 points
- NASDAQ fell -92.37 points
Today, the major indices are trading higher at the start and in the process has erased those declines. A snapshot of the markets currently shows:
- Dow industrial average up 249 points or 0.81% at 31321
- S&P index up 40.71 points or 1.07% at 3872
- NASDAQ index up 126 points or 1.11% at 11487
The Russell 2000 is also higher by 26.23 points or 1.51% at 1764.65
Yesterday, the price low reached down to test its near converged 200 and 100 hour moving averages (green and blue lines in the chart below. Support buyers lean against that level on hopes of a higher opening today. They got hit with the gap to the upside.
On the topside, the 11635.31 to 11688.88 area is home to swing highs going back to June 27. The high price yesterday reached 11620.43 short of that area. If the price is to extend higher, getting above that swing area is required.
