Nasdaq
The S&P 500 index is trading higher after a surge in healthcare stocks lifted the index. Shares listed in the healthcare subsector rose 0.78%, as did the Financials (0.83%) and Real Estate (0.10%) sectors. Even the Energy index, which started negatively, eventually rallied to gain 1.40%.
Shares of tech giant Apple was also a standout performer among the stocks listed in the Technology index, gaining 1.62% on the day. The continued fall in long-term US bond yields is also helping drive investment flows into the US markets.
The S&P 500 index is trading 0.58% higher as of writing.
The intraday bullish move is targeting a retest of the 26 July high at 4422. A break of this area allows the S&P 500 index to aim for the 4453 price mark, where the 100% Fibonacci extension level is found. Above this level, 4561 (127.2% Fibonacci extension) forms another potential barrier to the north.
On the flip side, a decline below the 4393 price mark (13/14 July highs) targets 4368, with 4324 and 4275 serving as potential targets to the south. If the correction extends deeper, 4257 and 4220 may come back into the picture.
Follow Eno on Twitter.