Major US indices snap losing streaks ...Middle East

For the Dow Industrial average it snapped its 4-day losing streak. For the broader S&P and NASDAQ indices,. they both snapped 5-day losing streaks.

A snapshot of the closing levels today shows:

Dow industrial average up +339.86 points or 0.80% at 42732.13S&P index +73.92 points or 1.26% at 5942.47.NASDAQ index up +340.80 points or 1.77% at 19621.68.

For the trading week:

Dow industrial average fell -0.60%S&P index fell -0.48%NASDAQ index fell -0.51%Russell 2000 rose 1.0639%

For the S&P index, its falling 100-hour moving average comes in at 5973.89 (blue line on the chart below). That will be the first upside target followed by the 200-hour moving average (green line on the chart below) at 6001.91. Getting above both those moving averages is needed to increase the bullish bias for the broader S&P index.

This article was written by Greg Michalowski at www.forexlive.com.

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