Strong open for the US stocks. S&P approaches 100 day moving average at 3900

The US stocks are opening sharply higher after the lower than expected CPI data today.

A snapshot of the market 6 minutes into the open is showing:

• Dow industrial average up753.52 points or 2.32% at 33267.47
• S&P index up 128.15 points or 3.42% at 3876.71
• NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index up 484.94 points or 4.68% at 10838.18
• Russell 2000 up 66 points or 3.77% at 186.70

For the S&P index 100 day moving averages up at 3901. Getting above that moving average, and staying above that moving average level, increases the bullish bias for the broader stock market Stock Market A stock or equity market is defined as the aggregation of buyers and sellers of stocks, which reflect ownership claims on businesses.These may also include securities listed on a public stock exchange, as well as stock that is only traded privately. Common examples of this include shares of private companies that are sold to investors through equity crowdfunding platforms.Unlike the past, the stock market has grown to include a more mature retail market, though nearly all investment is still don A stock or equity market is defined as the aggregation of buyers and sellers of stocks, which reflect ownership claims on businesses.These may also include securities listed on a public stock exchange, as well as stock that is only traded privately. Common examples of this include shares of private companies that are sold to investors through equity crowdfunding platforms.Unlike the past, the stock market has grown to include a more mature retail market, though nearly all investment is still don Read this Term. That MA was broken in August, and continued the run at that time, up to the 200 day moving average (green line). Sellers leaned and the price moved lower.

The 200 day moving average is currently at 4082.30 and would be a target on a move above the 100 day MA. Ahead of that target, is the 61.8% of the move down from the August high at 4006 (near the nice round 4000 level).

PS also near the 100 day MA is the 50% midpoint of the move down from the August high.

The buyers are making a play but getting above the 100 day MA/50% up to 3908 is key going forward.