The S&P index is trading up around 14.0 points or 0.32 percent at 4464.61. In the process, the prices moving above and away from its 200 hour moving average at 4455.61 (green line at the chart below). The 100 hour moving averages a target above at 4479.48 (blue line on the chart below). Get and stay above that level would give the buyers even more control .
Meanwhile, the NASDAQ index is up around 32 points or 0.24% at 13739.91. It is testing its 200 hour moving average of 13739.55 (green line in the chart below).
It would take a move above that moving average and staying above to increase its bullish bias from a technical perspective.
This article was written by Greg Michalowski at www.forexlive.com. Source