The S&P and Nasdaq indice bounce near 50-hour MAs. Buyers still holding short-term control ...Middle East

S&P 500 Index

The MA held as support, keeping the short-term bullish bias intact.

Nasdaq Composite Index

However, the 50-hour moving average at 17,573 provided a technical floor, as buyers leaned against it.

Despite today's pullback, the bounce off these key hourly moving averages shows that dip buyers remain active. The 50-hour MAs now serve as key short-term risk levels for both indices. A sustained break below would shift near-term momentum more clearly to the downside.

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

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