The S&P 500 rises 0.47% to 7,475.50, reclaiming key technical levels and shifting near-term momentum to buyers.
The S&P 500 climbed 35 points, or 0.47%, to 7,475.50, moving above its 200-hour moving average at 7,463.23. The index also reclaimed its 100-hour moving average at 7,422.11, signaling a shift in near-term bias toward buyers after last week’s decline.
Earlier, the S&P 500 had fallen below both moving averages, with sellers pushing the price into a swing area between 7,321 and 7,341. A bounce off that level on Monday set the stage for today’s recovery, reinforcing technical support.
The Nasdaq gained 250 points, or 0.97%, to 26,066 but remains below its 200-hour moving average at 26,204.41, leaving its short-term outlook less bullish than the S&P 500.