The S&P 500 index <.SPX> sent a bullish technical signal on Tuesday as it hit 1,111.11 and traded above its 200-day simple moving average for the first time since May 20.

If it stays above the key technical point, the move could provide the benchmark with a new support level. But the inability to close above the 200-day SMA may signal little investor commitment to the rally.

The Dow Jones industrial average <.DJI> gained 166.34 points, or 1.63 percent, to 10,357.23. The Standard & Poor's 500 Index <.SPX> added 19.91 points, or 1.83 percent, to 1,109.54. The Nasdaq Composite Index <.IXIC> rose 49.76 points, or 2.22 percent, to 2,293.72.

(Reporting by Rodrigo Campos; editing by Jeffrey Benkoe)