By Markus Heitkoetter
Stocks were quiet today, but the S&P and DOW both managed to make new all-time highs. With today’s move higher the S&P broke the 1,900 level for the first time ever.
By the end of the day the S&P had retreated from session highs, ending the day almost a point higher at 1897.45. The DOW finished the session 20 points higher at 16715.44.
E-Mini S&P traders witnessed one of the smallest ranges of the year today. With a current Average Daily Range of 18 points, today’s 6.5 point range was about 1/3 of the range we would expect in a normal day of trading.
For some reason Tuesdays continue to remain good “up days” in the market. Out of the 20 Tuesdays in 2014, 15 have been positive days in the DOW. Recently 8 of the last 9 Tuesdays have been positive. We’ll see if Bull Tuesdays can continue!