Technical Analysis

S&P remains below its all-time high close from Tuesday’s trade but getting close

High close level came in at 4423.16

The S&P index is higher by about 17 points out 4419.60. The high price for the day reached 4423.05. That level came in just short of the all-time high close from Tuesday at 4423.16. The intraday all-time high price comes in at 4429.97.

With a little more than an hour left and trading, will the market make a run toward a record close? Or will the market prefer to see the employment report tomorrow before making a run to a new high.

Goldman Sachs today raised their projections for end of year level to 4700 from 4300.  They said that high margin growth stocks will remain the drivers.   That represents a 6.35% gain from current levels.  

Meanwhile, the NASDAQ index is the biggest gainer today. It it is currently up 100.44 points or 0.68% at 14880.30. The high price today reached 14888.70. That represents a new all-time intraday high.  The high close is at 14840.71. With the current price trading at 14880.30, unless there is a sharp decline in the last hour, there will be a new all-time high close in the NASDAQ index today


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