US stock end the day with strong gains

Technical Analysis

Author: Greg Michalowski | stocks

Dow and S&P closing at record high levels. Nasdaq the big gainer but still off record levels.

The US major indices are up strongly with the Nasdaq leading the way.  

  • The Nasdaq is closing up about 87 points or 1.42%
  • The S&P is closing up about 20 points or 0.83%
  • The Dow is closing up 142 points or 0.67%
The S&P and Dow are closing at record levels.   Although the Nasdaq is the biggest gainer today, it remain well below the high from June 9th at 6341.696.  The closing level today was around 6239.  

Looking at the daily chart below, the Nasdaq index did hold trend line support and above the 50 day MA at the lows last week.