The major US stock indices are opening sharply higher. at 15 minutes after the open, the major indices are showing:
- Dow Industrial Average average is up 307 points or 0.79% at 39302
- S&P index is up 75 points or 1.42% at 5315.
- NASDAQ index is up 309 points or 1.89% at 16666
The small-cap Russell 2000 is up 28 points or 1.38%.
Technically, the S&P index is moving above it’s 100 day moving average at 5309.74. On Friday the price move down to that moving average before gapping below it on Monday. Yesterday the high price stalled near the level. Getting and staying above that level is important from a technical perspective.
This article was originally published by Forexlive.com. Read the original article here.