On the final day of trading, the S&P index is close to its highest point. The index is up 40.71 points, or 1.05%, at 3960.17.
On the daily chart, note that the price closed higher on Friday above its 100-day moving average for the first time since December 14. On Monday and Tuesday, the price stayed above that line on the dip.
Yesterday, the price bounced right off the MA near 3877 and closed higher (and at the high, up 27 points or 0.70%). The momentum has continued today. That rise has brought the price closer to the next key objective at the 200-day moving average (3877.29). The MA comes in at 3987.29, and a rise above that line and staying above it would give the buyers a stronger hand.
