S&P500 INDEX - U.S Indices All-Time Record Highs - 08/12/2016 (GMT)

The sharp rise in the oil prices sent Wall Street stocks to hit record highs. All of the three U.S. indices ended positive creating all-time record highs for the first time since 1999. The S&P 500 gained 0.5% and topped at 2,188 with all of the index’s sectors closing positive, the only exception was the Real Estate sector that dropped 0.94%. It’s worth to mention that energy sector, that was the main driver of the U.S. indices, rose 1.47%. The Dow Jones industrial average picked up 0.64% or 117 points up at an all-time high at 18,615 while the Nasdaq composite index pulled up 0.46% or 23.81 points at 5,228, surpassing its previous high set at Tuesday's close.

From a technical point of view, the S&P 500 the last 4 weeks is moving between the 2,147 support level and the 2,188 resistance level. During yesterday’s session the index reached a fresh all-time high at 2,188 and if the price overcomes the latter level then the index will meet the 161.8% Fibonacci level of the last big downward move (June 23 high price until June 26 low price).