Within 500 points of the all-time record high
The Dow industrial average has filled the gap from February 21 to February 24 in the trading today. The low of the gap was at 28892.70. The low price today came in at 28713.53, but the price has since moved to a session high of 29104.12 – filling the gap in the process. The price of the Dow currently trades up 442 points or 1.55% at 29087.
In addition to filling the gap, the move higher has taken the price within 464 points of the all-time high of 29568.57 reached on February 12. The March low took the price down 38.4% from that high. Since bottoming, the price is up nearly 60% from a low.
For the year, the Dow is now up 1.96%.
In the other indices today, the NASDAQ lags with ONLY a 0.94% gain. The S&P index is up 1.56% to 3581.56.
Both the S&P index and the NASDAQ index made all time new highs today once again. The S&P index is now up 10.86%. The NASDAQ index is up 34.35%. When is enough enough? Let’s just say anyone who’s sold the indices have not fared very well. At some point there will be a technical clue but for now, the trend remains your friend.