S&P index within 0.8% of all time high close

<p>Major US indices are trading to new session highs. For the S&amp;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).</p><p>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%.</p><p>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.</p><p>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. </p><p>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.</p>

This article was written by Greg Michalowski at www.forexlive.com.