Wall Street indices spiked higher today with the Dow Jones adding over 1.12% at 26,174.40. The Nasdaq currently is trading 1.52% higher at 8,014, while the S&P 500 trading 1.19% higher at 2,922.65 as trade tensions between China and US ease. The Michigan Consumer Sentiment Index registered at 92.1, missing expectations of 97.2 in August.
The CBOE Volatility is fear Index, is down more than 6% at 17.21 just to confirm the positive market mood.
Dow Jones getting a boost from Apple (AAPL) +2.75% at $212.10, Goldman Sachs (GS) +2.21% and JPM, +1.31%.
Dow Jones holds the 200 day moving average and today returned inside the ascending trendline after jumping more than 280 points regaining the short term positive momentum while for the medium term the index is on a rising trend channel. On the upside immediate resistance is at 26,222 today’s high and then at 26,610 the 50 day moving average. On the downside Dow Jones first support stands at 26,020 today’s low and then at 25,602 the 200 day moving average.
The European Indices also trading higher today, the FTSE 100 is 1.12 percent higher at 7,197 as the pound trades above 1.2115. DAX 30 is 1.40 percent higher at 11,724 while CAC 40 in Paris also trades 1.27 percent higher at 5,368.