Dow industrial average even getting into the act.
The major indices are now all 3 trading at new session highs, with the Dow industrial average also joining in on the fun. The S&P index and NASDAQ are comfortably trading at new all time highs and well above the record close level from yesterday.
The NASDAQ index is trading up 191 points or 1.67% at 11658. The high price just reached 11662.46. Looking at the hourly chart, the topside channel trendline currently comes in at 11673. As prices reach new all time highs projecting resistance becomes an exercise in finding topside trend lines. That is the next one on the hourly chart.
For the S&P index it is currently trading at 3476.62 up 33 points or 0.96% (that is the high for the day). It has topside trend line resistance at 3481 currently (and moving higher).
The Dow industrial average is trading up 60 points or 0.21% at 38309. That is just off its high price at 28309.66. The key level for the Dow industrial average remains 28,538.44. That level was the closing level from 2019.
