S&P index reaches all time highs.

Technical Analysis

Author: Greg Michalowski | sp

All time high at 3950.43 broken

The S&P index has just moved to a new all time high surpassing the previous high at 3950.43. The high just ticked to 3950.87.  

The index corrected about 5.75% from the  to the low reached last week. The index is up 4 of the last 5 trading days.  

In the process, the price moved back above the 50 day MA (white line) currently at 3836.62.  

Technically, the next key target will be the 4000 level. Above that a topside trend line cuts across at 4024. 

The S&P index is now up 5.24% on the year. The Dow leads the major indices with a gain of 6.65%. The Nasdaq which outpaced the 3 major indices last year, is up 3.77% currently.

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