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Three Major Stock Indexes Hit New Records

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Editor's Note: This article was originally published in John Murphy's Market Message on Friday, November 15th at 4:14pm ET.


Stocks are ending the week in record territory. The three charts below show the three major U.S. stock indexes closing at record highs on Friday. And the rally is pretty broad-based. Ten of the the eleven market sectors gained on the day. Healthcare (XLV) and communciation services (XLC) were the day's strongest sectors and hit new highs. So did industrials and technology. The XLC hit a new record for the first time and was led higher by internet stocksA surge in health insurers helped make healthcare the day's strongest sector.

Yesterday's message suggested that communication stocks might be the next sector to hit a new record. That record was hit today. Chart 4 shows the Communication Services SPDR (XLC) rising above its July peak today to put it at an all-time high. It's being led higher by internet stocks.

Chart 1

Chart 2

Chart 3

Chart 4

John Murphy
About the author: is the Chief Technical Analyst at StockCharts.com, a renowned author in the investment field and a former technical analyst for CNBC, and is considered the father of inter-market technical analysis. With over 40 years of market experience, he is the author of numerous popular works including “Technical Analysis of the Financial Markets” and “Trading with Intermarket Analysis”. Before joining StockCharts, John was the technical analyst for CNBC-TV for seven years on the popular show Tech Talk, and has authored three best-selling books on the subject: Technical Analysis of the Financial Markets, Trading with Intermarket Analysis and The Visual Investor. Learn More
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