It's another record trifecta for the major US indices

Technical Analysis

Author: Greg Michalowski | sp

Major indices going out near the day highs

It is another trifecta as the S&P, Nasdaq and Dow all closed at record highs. Moreover, the major indices are all going out at or near the highs.
  • The S&P is closing up 4.58 points or 0.18% to 2555.23. That is the high for the day
  • The Nasdaq is closing up 16.295 points or 0.25% to 6603.547. The high reached 6604.20
  • The Dow is closing up 42.21 points or 0.18% to 22872.89. That is the high for the day.
Records once again.  

One sector that did not rise today was the banks. Tomorrow Citicorp and JP Morgan will release earnings.  They will set the stage for the financials.  Today with yields moving a bit lower, the Fed saying they will gradually raise rates, and the anxiety from the earnings, the price action is a bit cautious.