Meet the New All-Time High on the S&P 500 Index (Updated)
October 17, 2013 by Jon C. OggThis story has been updated from the 1:28 p.m. EST post time to reflect a new all-time high.
The DJIA may be stuck in the mud because of its huge weighting of International Business Machines Corp. (NYSE: IBM) but the S&P 500 Index has now challenged and broken out to a new all-time high. One of the trends we identified that the D.C. settlement will not change is that this bull market in equities is likely to keep running higher and higher.
The S&P 500 was up about 6 points at 1,727.50 as of 1:20 p.m. EST and Thursday’s trading range had been 1,714.12 to 1,729.64 and the 52-week trading range is 1,343.35 to 1,729.86. The new all-time high is 1,730.24!!!
The S&P 500 was within 0.22 of reaching an all-time high earlier but has put in a new high now. This stock market never did get hit too hard during the height of the Washington panic, and we were never on the verge of a stock market crash. This is telling you something, and you should be listening to what it is telling you.
If you have really bad news in the works and an opportunity for the wheels to come off the wagon and nothing bad happens in the stock market, the market is telling you that it wants to surge higher. That is just the way it always has been and likely will be ahead.
Below is my market tweet @jonogg on the DJIA versus the S&P 500. Stay tuned.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.