Stocks surge, but buyers still have technical work to do

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US stocks are sharply higher, with the Dow up 2.06%, the S&P 500 up 1.75%, the Nasdaq Composite up 2.40% and the Nasdaq 100 up 2.03%. The run to the upside - especially in the tech heavy Nasdaq indices are interesting in that a Democrat sweep - along with the referendum votes on data centers - could limit expansion.  That too may slow the spending as well which may put a governor on the cost side for corporatations.  The price action and the technicals become important in times of change and volatility.  Be aware that things can turn around, so having a technical roadmap is important.  In the video above, I outline the key levels that will determine whether buyers can keep the momentum going or start to lose some of the controlA quick review verbally shows:Dow: Back above its 100-day MA at 52,418. That is the close risk level for buyers. Stay above, and the next key upside target comes in near 53,794.S&P 500: Testing its 200-hour MA near 7,700. Get above and stay above to give buyers more control, with the 7,753–7,771 swing area the next target. Support sits near 7,617–7,622.Nasdaq Composite: The rebound has buyers targeting the 100-hour MA at 26,146, followed by the 100-day MA at 26,249. Both need to be broken to strengthen the bullish bias. The 200-day MA near 25,088 remains key support below.Nasdaq 100: The next hurdle is the swing area between 28,822 and 28,953. Get above and stay above, and the door opens toward the 100-hour MA at 29,229. The 200-day MA near 27,971 remains the key support barometer.The buyers have their rebound. Now they need to get through resistance to keep it going. This article was written by Greg Michalowski at investinglive.com.