New highs for broader indices

The broader US indices are trading to new at session highs. For the S&P index it just reached a new high of 5569.19. That is just 2-3 points short of the 100-hour moving average at 5571.79.. Getting and staying above that moving average would tilt the technical bias more to the upside.

Meanwhile, the Nasdaq index is up 306 points or 1.73% at 18032.48. It is back above its 200-hour moving average at 17934.17 but still remains below its 100 hour moving average at 18212.01.

This article was written by Greg Michalowski at www.forexlive.com.