The S&P index is trading up 45.11 points or 1.08% at 4196.40. Its high price reached 4202.92. That took the price back above its 100-week moving average
Moving average
A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot
A moving average is a statistical tool that is used to smooth out short-term fluctuations in data and reveal longer-term trends. It is calculated by taking the average of a certain number of data points over a specific period of time, and then plotting that average as a line on a chart. The most common types of moving averages are simple moving averages (SMA) and exponential moving averages (EMA).In financial markets, moving averages are often used to analyze stock prices, exchange rates, and ot Read this Term at 4200.13. Last week, the price also moved above that moving average level, but closed just below it at 4191.99. The current price is right around the closing level from last week thanks to the gains in trading today.
From a technical perspective, getting in closing above the 100-week moving average would be more positive. The price has not closed above that moving average since August 15, 2022.
The other good news technically for the index is that the declines this week pushed the price back below the 50% midpoint of the range since the 2022 all-time high. That level came in at 4155.10. The low price for the week reached 4103.98 before rotating back to the upside.
Staying above the 50% midpoint is positive but admittedly the last 6 of 7 weeks have seen the price trade above and below that midpoint level with 2 weeks closing above and 4 weeks closing below. This week would be the 3rd week with the price above the level.
It is positive, but the price needs to stay above that 50% level, and a move above the 100-week MA (and close above), would also be supportive of further gains technically.
Also of note this week is 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 ass
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 ass Read this Term index index is also looking to close above its 100-week MA. That MA comes in at 12902.78. The Nasdaq index is currently above that MA at the 12940 area. A close above would be the first close above that MA since April 11, 2022.
