More stocks are joining the party back toward records

The S & P 500 is marching back toward record highs, and it's not being led by megacap tech alone. More than 80% of S & P 500 stocks closed above their 50-day moving average last week — the most since April — Roth MKM chief market technician JC O'Hara pointed out. The equal-weighted version of the S & P 500 closed at a record, another sign of broadening market participation.

These events have been followed by a median rally of 8% that lasts about two months, chief global investment strategist Tim Hayes said. The S & P 500 ended Friday's session just 0.6% below its all-time high of 5667.20 reached in mid-July. To be sure, Roth's O'Hara noted the stock market was not yet out of the woods. He said the S & P 500 is pushing against key resistance levels. Ehat's more, trading volume remains concerning.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: S&P 500 notches weekly win as Powell tees up rate cutsStock Market Today: S&P 500 notches weekly win as Powell tees up rate cuts
Source: Investingcom - 🏆 450. / 53 Read more »

Stock market today: S&P 500 closes lower as yields rise ahead of PowellStock market today: S&P 500 closes lower as yields rise ahead of Powell
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: S&P 500 closes higher as Fed minutes boost Sept rate cut hopesStock Market Today: S&P 500 closes higher as Fed minutes boost Sept rate cut hopes
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: S&P 500 snaps 8-day win streak as energy stocks slideStock Market Today: S&P 500 snaps 8-day win streak as energy stocks slide
Source: Investingcom - 🏆 450. / 53 Read more »