Although the U.S. economy is going through difficult times as a result of the global pandemic, the levels reached by the S&P 500 (index formed by the 500 largest companies in the U.S.) show the growing independence of the stock market. Last Tuesday, the S&P 500 registered an all-time high on the New York Stock Exchange, erasing the losses it had suffered since the beginning of the global pandemic. It is important to mention that the S&P is the most representative stock market index of the U.S. market situation. After the closing results, the index of the largest companies on the stock exchange gained 0.23% to end at 3,389.78 points, surpassing its maximum levels since last February 19. The Nasdaq, on the other hand, surpassed its record-breaking levels for weeks, gaining 0.73% to 11,210.84 points. On the contrary, the Dow Jones lost 0.24% to 27,777.59 units. The S&P 500 surpassed the high of 3,393.52 units it reached on February 19. The bulk of the gains were led by Amazon, Netflix and other tech giants. Should the S&P manage to extend its gains, the stock index could surpass its recent high of 3397.82 (R1) in the coming days. That said, a rally beyond the psychological level of 3400 points towards 3423 (R2) is possible. On the contrary, should the index lose the upward momentum, the first support of interest to keep in mind lies at the August 11 low at 3326.14 (S1). Such a breakout could trigger a further fall to 3304.22 (S2), the level defined by the low of February 10, 2020. For further information on this topic contact us, we are at your service.