S&P 500 rides another 5-day win streak to just below 200-day moving average
The S&P 500 rose 0.3% in morning trade, to ride a fifth-straight gain to just below the widely watched 200-day moving average (DMA). The 200-DMA is viewed by many chart watchers as a dividing line between longer-term uptrends and downtrends. The S&P 500 has been below its 200-DMA since Dec. 4; the line currently extends to 2,741.76, according to FactSet. A 5-day win streak would be the index's second such streak this year. The S&P 500 has gained 3.5% during the current streak, after running up 6.1% over the previous 5-day streak, which ended Jan. 10. Meanwhile, the Dow Jones Industrial Average has closed above its 200-DMA (24,990.95) since Jan. 30, while the Nasdaq Composite is still below its 200-DMA (7,454.17). Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.