S&P index up 2%. Largest gain since January 6 ...Middle East

The major US stock indices remain well elevated. The S&P index is now up over 2% at 4500. That's the highest level since September 14 when the high price extended to 4511.99. That is the next target. Move above that level and traders will next target the September 1 hi which came in at 4541.25. That swing area between 4511.99 and 4541.25 is home to a number of swing lows and highs going back to mid July (see red numbered circles on the chart above). The gain of 2% today is the largest percentage gain since January 6.Break above the swing area up at 4541.25, and traders will start to think about the high price for 2023. That level was reached on July 27 at 4607.02. That high is still 2.3% awa

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