Stocks stepped higher Friday and stretched their winning streak to five days.
The Nasdaq and S&P 500 both rose 0.6%, while the NYSE composite added 0.3%. Volume increased sharply across the board, elevated by quadruple witching, the once-a-quarter expiration of options and futures. The Nasdaq also closed above its declining 50-day moving average for the first time since July 29.
For a second straight day, the Nasdaq and S&P 500 ended above their respective areas of prior resistance, at 2600 and 1200. The next test for the S&P 500 will come around 1230, which is also close to its 50-day average.
For the week, the Nasdaq rose 6.3%, the S&P 500 5.4% and the NYSE 4.3%.
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