Major US indices are trading to new session highs. For the S&P index since now within 0.8% of its all-time high closing level at 4796.57. The all-time intraday high comes in a 4818.62. The current price is trading at 4758.58 or 18 points or 0.3% (the high price reached 4760.19).
Meanwhile, the Dow Industrial Average is trading to a new all-time high. It’s high-priced today reached 37483.64. The current price trades at 37465 up 159 points or 0.43%.
Although the Nasdaq index is the farthest away from its all-time high price of 16212.23 (the current pace trades at 14971), it is having the strongest year (43.08%). The Nasdaq index is still 7.15% away from its all-time high price.
The small-cap Russell 2000 is the biggest winner today with a gain of 1.59% at 2014, up 31.69 points on the day. Looking at the daily chart, the prices back within a swing area ceiling between 2007.30 and 2030.05. That ceiling area goes back to August 2022.
Get above that area (see yellow area and green number circles on the chart below), and traders will look toward the 50% midpoint of the move down from the 2021 high. That level comes in at 2047.13. Need this to say the Russell 2000 is a part way away from its all-time high price reached in 2021 of 2458 25.
Russell 2000 is in the swing area ceiling area