The S&P 500 is grinding higher only slowly, and that could become a problem

New all-time highs have already been registered by the Nasdaq Composite Index COMP, +0.80% the NASDAQ-100 NDX, +0.99% QQQ, +0.96%  and the Russell 2000 RUT, +0.19% IWM, +0.43%

However, the S&P 500 index SPX, +0.29% and the Dow Jones Industrial Average DJIA, -0.02%  haven’t even exceeded their March and February highs, respectively. Hence, they are playing catch-up. It seems likely that the S&P will indeed move to new all-time highs as well, but nothing is ever certain in the stock market.

The S&P has resistance at its March highs, at 2,800. Beyond that, there is resistance at the all-time highs at 2,870. The index has been steadily rising since its strong, positive

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