<p>The S&P index has reached an intraday high at 4000.08. That is the first trade at that level since September 13. THe next target is the 61.8% of the move down from the August high at 4006.81. Above that and the key 200 day MA at 4081.08 will be eyed.</p><p>For the trading week, the S&P is up 6.0% which is the largest gain since 6.45% during the week of June 21. The S&P was up 6.58% during the week of May 23, and 6.16% during the week of March 14. .</p><p>The Dow industrial average is trading up around 30 points or 0.09%. The <a target=“_blank“ href=“https://www.forexlive.com/terms/n/nasdaq/“ target=“_blank“ id=“73ea5227-7971-4d75-a878-f20ede81c27e_1″ class=“terms__main-term“>NASDAQ</a> index is leading the way with a 222 point rise or 2.01% at 11338.71.</p>

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