By Markus Heitkoetter
It’s a bit hard to believe that the S&P has a new all-time high close of 2000.12. After a quiet session with the E-Mini S&P confined to a 6.5 point range (almost half the current Average Daily Range), stocks ended the day flat. In the end the S&P was able to close .10 higher or .0%. JUST enough for a new all-time high close.
With 2 trading sessions left in August the S&P is up 3.6% for the month. This is the second best monthly gain of the year behind February’s 4.31% increase.
With light volume and a 3 day weekend ahead, it’s unlikely the S&P will experience a major rally into the weekend. But the big question is…Will the S&P end the week above 2,000?
The Traveler’s Companies (TRV) closed near session highs today, up +.59%. We’ve been keeping an eye on TRV since an entry signal on 15th Aug 2014. With today’s move our Power Crossover Method ADR Profit Target was hit at $94.68.