Sunday, 5 May 2024
by BD Banks
The 3 major US stock indices closed higher today and this week. The gains were led by the NASDAQ on both measures.
A summary of the day shows:
For the trading week:
Looking at the small-cap Russell 2000, it rose 0.97% for the day, and also closed higher for the week by 1.684%.
Looking at the daily chart of the S&P index, it is closing just below its 50-day moving average at 5129.98. Getting above that moving average is needed to increase the bullish bias from a technical perspective (see chart below).
For the NASDAQ index, it get above its 50-day moving average today and stayed above that moving average. That is more bullish technically.
For the trading week what major stocks had great weeks?
This article was written by Greg Michalowski at www.forexlive.com.