By Lawrence G. McMillan
The S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.94% continues to make new closing and intraday highs nearly every day — it has made a new intraday and/or closing all-time high on nine of the last 10 trading days.
It has been joined in these endeavors by the NASDAQ-100 /zigman2/quotes/210598364/realtime NDX +1.17% /zigman2/quotes/208575548/composite QQQ +1.22% and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.80% /zigman2/quotes/208954582/composite DIA +0.83% .
In addition, a new index has joined in – the Russell 2000 /zigman2/quotes/210598147/delayed RUT +1.47% /zigman2/quotes/209961116/composite IWM +1.33% . It is supposed to be more representative of the “average” stock, and it has been trading sideways nearly all year after last making a new all-time high in mid-March 2021. Thus, its new upside breakout is significant.