FYI: On October 15th, the S&P 500 reversed with incredible violence off of an intraday low at 1820.66. Since that intraday low, the S&P 500 has ripped higher, gaining 10.85% and only closing lower on three of twelve trading days since. It's almost impossible to believe, but on Friday the index closed at an all-time closing high of 2,018.05. S&P 500 stocks aren't alone though: the Dow also closed at a new all time high. The blue chips hit an all-time intraday high as well, a feat the S&P 500 was a few points below. As for the Nasdaq, the index hit a multi-year high, but it's still below its lofty levels established during the internet bubble days. Finally, small caps in the Russell 2000 Index have done well in their move higher from the October 16th intraday lows. They've also smashed through a downtrend that had been in place since the June highs. All four major US indices are now back above 50- and 200-day moving averages. Below we chart each index's performance over the past year.
Regards,
Ted
http://www.bespokeinvest.com/thinkbig/2014/11/3/new-all-time-closing-highs.html?printerFriendly=true
