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US stocks are higher. S&P key level at 1950 area

High extends to 1927 area today.

The US stock indices are modestly higher on the day with the S&P up 0.35%, the Nasdaq up 0.30% and the Dow up 0.55%.

For the S&P, the high extended up to 1927 today so far. The low held at 1900. The price is currently trading at 1918.

Technically, the correction has seen the price move closer to what is a key level above. That level comes in at the 1949-50 area. The 50% of the move down from the December high comes in there along with the 200 hour MA. The high from Monday stalled against the level increasing the levels importance.

The price is a bit away from the level, but should the buying continue (note the triple bottom at the low for the week), that level should be key for the bullish/bearishness of the market.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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