The major US stock indices are opening higher. The Dow industrial average and S&P index are working on their 8th consecutive day to the upside. The NASDAQ index is working on its 9th day.
Yesterday the NASDAQ closed above its 100-day moving average. That moving average probably comes in at 13616.71.
Meanwhile, the S&P is still below that 100-day moving average which currently comes in at 4402.52. The price is within around 14 points of that key technical barometer. Will sellers start to lean against that 100-day moving average after the 8 day run up? I would be on alert for sellers against the level on the 1st test at least.
A snapshot of the market 4 minutes into the open is showing:
- Dow industrial average of 59.27 points or 0.17% at 34211.88
- S&P index up 8.77 points or 0.20% at 4387.14
- NASDAQ index up 30.32 points or 0.22% at 13670.17
In the US a debt market, yields are mixed with the shorter end marginally higher and the longer end lower. The US treasury will auction off a 10 year notes at 1 PM ET:
- 2-year yield 4.99% +1.2 basis points
- 5-year yield 4.539% +0.2 basis points
- 10-year yield 4.556% -1.5 basis points
- 30-year yield 4.694% -4.0 basis points
