Stocks like it. S&P trades at day/year's highs

Author: Greg Michalowski | Category: News

S&P spends the day above 2100

The 2100 area has been an upside level of attraction for traders.  Last Thursday, the index closed above it. On Friday, it closed just below. 

Today the low stayed above it and in the aftermath of Yellens speech, the index has extended to new session highs and away from the key level. The index trades at 2112, above the 2016 April high at 2011.05.  A close at this level would be the highest close since July 21, 2015.  

The Nasdaq composite index is also trading at 2016 highs at 4977.75 currently (the prior high was 4969).  If you recall, the end of year closed at 5007.412. The first day of the year saw a gap lower and that gap has not been filled. With the price trading at 4977 currently, that gap is getting closer to being filled but it is still 30 or so points away. 
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