S&P and NASDAQ trade above their 50 day moving average

<p>The weaker data has traders thinking the Fed might be on hold going forward. Yields are lower. Stocks are higher.</p><p>Both the S&amp;P index and the NASDAQ index have ventured above their 50 day moving averages. </p><ul><li>The 50 day moving average on the S&amp;P is at 4460.85. The price is currently trading at 4466.27 up 32 points or 0.72%</li></ul><ul><li>The 50 day moving average on the NASDAQ index is at 13815.65. It is currently trading at 13871.73</li></ul><p>Staying above the moving averages increases the bullish bias, and puts the buyers more in control. The moving average represents a key barometer for both buyers and sellers going forward. Staying above is more bullish. Moving below is more bearish.</p>

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