US stocks extend gains, DJIA and S&P close at record highs

US stocks extended gains on Tuesday, with the  DJIA and the S&P closing at all-time highs.

The DJIA rose 120.74 points, or 0.66%, to 18,347.67, ending at a record high. The index index reached an intraday peak of 18,371.95. The S&P 500 gained 14.98 points, or 0.70%, to 2,152.14. The Nasdaq Composite climbed 34.18 points, or 0.69% to 5,022.82.

Energy-related stocks were the biggest winners, as oil prices recovered ground, but the financial sector also advance, with Goldman Sachs adding 3.11% and JPMorgan Chase rising 1.49%.

DJIA technical perspective

“The daily chart for the DJIA supports some further gains, as the technical indicators maintain their bullish slopes near overbought levels, whilst the index extended further above its moving averages that also present upward slopes,” said Valeria Bednarik, chief analyst at FXStreet. “In the 4 hours chart, the RSI indicator hovers around 76, whilst the Momentum indicator retreated within positive territory, diverging with the index that keeps posting higher highs. In this last time frame, the 20 SMA heads sharply higher around 18,159, with the risk still towards the upside and the market now starting to eye the 19,000 level.”

Support levels: 18,305 18,262 18,214. Resistance levels: 18,375 18,425 18,480.