The NASDAQ and S&P indices have exhibited a notable surge, with a focus on the 100-hour Moving Average (MA) as the market sentiment remains positive. The broader market indices, including the S&P and NASDAQ, have shown strength, with the S&P up by 1.04% and the NASDAQ up by 0.87%. Concurrently, the Dow Industrial Average has also experienced an increase of 1.14%.

Analyzing the hourly chart of the S&P index reveals a movement above its declining 50-hour MA early in the session, followed by a brief correction before resuming an upward trajectory. Recent hourly bars have shown a significant extension away from the 50-hour MA, currently situated at 5627.53, with the 100-hour MA looming above at 5753.06. The NASDAQ index, on the other hand, surpassed its 50-hour MA on the previous trading day and experienced a minor correction at the start of the current session.

Despite the initial dip below the moving average, both the S&P and NASDAQ indices have demonstrated resilience, with a recent upward trend indicating a positive market sentiment. In the case of the NASDAQ index, the 100-hour MA represents a key target at 18139.36. The price action for both indices suggests a potential for further upward movement as long as they remain above their respective 50-hour MAs.

Maintaining a strategic position above the 100-hour MAs will be crucial for the indices to explore higher levels. The recent price behavior indicates a bullish momentum, supported by the technical analysis of moving averages. The overall market outlook remains optimistic, with the indices showcasing strength and resilience in the face of market fluctuations.

In conclusion, the NASDAQ and S&P indices have experienced a surge, with a particular focus on the 100-hour MA. The recent price movements indicate a positive market sentiment, with the potential for further upward momentum as long as key moving averages are maintained. Investors are closely monitoring these developments as they navigate the dynamic market conditions.