The Dow industrial average leads the way with a gain of more than 700 points or 2.08% gain. The highest price just reached 35316.63. This brought the price to just above its 50-day moving average at 35,298.88. Rising above and staying above this moving average would tip the technical bias further in favor of buyers.
The low move last week found supportive buyers near the 38.2% retracement of the 2021 trading range. That retracement comes in at 34002.73. Last week’s low stood at 34006.98 just above this retracement level.
The other major indices are also on the rise today:
- The S&P index is up 64.83 points or 1.43% to 4,603.03
- The NASDAQ index lags but still up 136.59 points or 0.91% to 15,222.25
- The Russell 2000 index soars with a gain of 45.10 points or 2.09% that of 2204.41.