Nasdaq Composite breaks through 200-day average

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Nasdaq Composite breaks through 200-day average
SAN FRANCISCO (MarketWatch)-- Monday's 2.4% rally in the Nasdaq Composite , which pushed the tech-heavy benchmark into positive territory for the year, also lifted the index above its 200-day moving average of 2,692 by the close. A rise in the average, which attempts to smooth out day-to-day volatility, is generally seen as a positive sign for chart analysts on alert for signs that bullish momentum is building. The S&P 500 , which closed up 1.3% at 1,254.2, is nearing its 200-day average of 1,274.6. It passed its 50-day average earlier this month. The Dow Jones Industrial Average , which gained 0.9% to 11,913.6, is also close to its 200-day moving average, of 11,967.