SPX weekly
The S&P 500 just edged above the 2021 all-time high of 4818. A weekly close above that would be particularly bullish.
The past two days of buying have been remarkably strong despite higher Treasury yields. On the day, the index is now up 0.8% to 4820, up 40 points.
Technically, the weekly close will be important but there’s now nothing standing in the way for further gains, technically.
The heatmap of the winners today has Traveller’s Insurance and Paypal as the only two 5% gainers but nearby are a handful of chipmakers that have been the heart-and-soul of the rally over the past year.