The S&P index has given up its earlier gains. At session highs, the S&P was up 12.43 points. At session lows the index was down -6.29 points. The current price is trading down -4.07 points. Recall from Friday, the index closed at a new record high. The NASDAQ index is holding onto its gains with a 51.87 point rise or 0.25%. At session highs the index was up 93.86 points. At the lows it was up 13.80 points.The Dow industrial average each day high of up 45.06 points and a low point of -108.15 points. It is close to the low at -97 points or -0.22%.Nvidia and AMD are moving higher with Nvidia up 1.14%. Broadcom shares are also higher by -0.94%. SMCI which builds boxes for Nvidia chips are up 7.64%.For chipmakers, the US/EU trade deal favored US chipmakers. UBS raised AMD's price target from $150-$210. The current price is trading at $173.06 after trading as high as $174.70 earlier today.Looking at AMD's stock price, it moved down 65% from the 2024 high price. Since then, the price is up 128%. That is still way off the high price from 2024 at $227. Looking at the daily chart, the high price today tested the high price going back to October 2024 which peaked at $174.05. Getting and staying above that level will be key for the shares going forward.Zooming in to the hourly chart, the uptrend from the April low has consistently held above both the 100-hour (blue) and 200-hour (green) moving averages. Since April 22, there have been only brief dips below the 100-hour MA, and none below the 200-hour MA—signaling strong bullish control.Currently, the price is well above the 100-hour MA and is testing the $174 target, suggesting near-term overbought conditions. A period of consolidation may follow - if the price can stay below the $174 area. However, for sellers to gain meaningful control, the price would need to break below the rising 100-hour MA and stay below it. Until then, buyers remain in charge. This article was written by Greg Michalowski at investinglive.com.