US major indices trade to new session highs

Technically, both the Dow Jones and S&P index have moved above their respective 200 hour moving averages.

Looking at the S&P hourly chart above, it’s 200 hour moving average comes in at 4111.68. The current price is trading at 4133.21 up 75.3 points or 1.85%. The price is also just above its 38.2% retracement of the move down from the March 30 high at 4126.83. Stay above the 1 200 hour moving average keeps the buyers in control.

Looking at the Dow chart below, it too moved above its 200 hour moving average at 32833.04 (green line in the chart below). The price yesterday extended above the 38.2% retracement at 32490.93. The next target comes against the 50% midpoint at 33063.99. Like the S&P stay above the 200 hour moving average keeps the buyers in control.

Finally, although the NASDAQ index is the biggest mover today, it still remains below its falling 200 hour moving average currently at 12143.75. The  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 assumed the majority of major trades that had been executed by the over-the-counter (OTC) system of trading.What Makes Up the NASDAQ?In particular, the exchange also features the NASDAQ Composite, which includes almost all stocks listed on the NASDAQ stock market. Along with the Dow Jones Industrial Average (DIJA) and S&P 500 Index, this is one of the three most-followed stock market indices in the United States.Overall, the NASDAQ stock market has three different market tiers. This includes the Capital Market, or an equity market for companies that have relatively small levels of market capitalization. The listing requirements for small cap companies are less stringent than for other Nasdaq markets that list larger companies with significantly higher market capitalization.Additionally, the Global Market is made up of stocks that represent the Nasdaq Global Market. The Global Market consists of 1,450 stocks that meet the exchange’s financial and liquidity requirements, and corporate governance standards.Finally, the Global Select Market is a market capitalization-weighted index made up of 1,200 US-based and international stocks that represent the Global Select Market Composite.

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 assumed the majority of major trades that had been executed by the over-the-counter (OTC) system of trading.What Makes Up the NASDAQ?In particular, the exchange also features the NASDAQ Composite, which includes almost all stocks listed on the NASDAQ stock market. Along with the Dow Jones Industrial Average (DIJA) and S&P 500 Index, this is one of the three most-followed stock market indices in the United States.Overall, the NASDAQ stock market has three different market tiers. This includes the Capital Market, or an equity market for companies that have relatively small levels of market capitalization. The listing requirements for small cap companies are less stringent than for other Nasdaq markets that list larger companies with significantly higher market capitalization.Additionally, the Global Market is made up of stocks that represent the Nasdaq Global Market. The Global Market consists of 1,450 stocks that meet the exchange’s financial and liquidity requirements, and corporate governance standards.Finally, the Global Select Market is a market capitalization-weighted index made up of 1,200 US-based and international stocks that represent the Global Select Market Composite.
Read this Term index is currently up 327 points or 2.79% at 12068. It is still 75 points away from its 200 hour moving average. Looking at the hourly chart, the price has not traded above its 200 hour moving average since April 8. Yesterday the price moved and closed above its 100 hour moving average for the 2nd time since May 4. On May 4 the price closed above the moving average but gap lower the next day and had not been above the level since that day.