www.varchev.com

Stocks continue their run higher. S&P up 1.80% in best day since April

SPX H1 Chart

Rating:

12345
Loading...

Nasdaq up 2.42%
The US stocks continue the run higher with the S&P up 1.8% now and the Nasdaq up an even greater 2.42%.

Looking at the hourly chart of the Nasdaq, the price has retraced greater than 38.2% of the move down from the October 1 high at 7592. The price is at 7613 currently.

NDX H1 Chart

The price is also above the 50 hour MA (white line in chart above) for the first times since October 3rd. That MA comes in at 7572 now.

Targets on the topside include the 50% midpoint of the move down comes in at 7690. The lagging 100 hour MA is up at 7789 currently. Close risk is the 50 hour MA now (at 7572). Earlier today, the Nasdaq moved above its 200 day MA at 7508.

For the S&P, the price is above its 38.2% retracement of the move down at 2798 (see chart below), but remains below its 50 hour MA at 2813.73. The price currently trades at 2802, up 1.88%.

Like the Nasdaq, the S&P moved above its 200 day MA earlier in the day at 2767.05. That improved the technical view and has helped lead to the push higher.


 Trader Aleksandar Kumanov

Read more:

RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance

London


25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256

Universal numbers

World Financial Markets - 0700 17 600    Varchev Exchange - 0700 115 44

Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.

Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006

The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.


Disclaimer:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

chat with dealer
chat with dealer
Cookies policy