S&P 500 Hits Fresh Record Highs

S&P 500 hit the fresh all-time high of 3047.9 today on reports that U.S. Treasury Secretary Mnuchin open to looser rules for big banks.

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Bloomberg reported today that U.S. Treasury Secretary Steven Mnuchin is open to loosening regulations for banks.

According to Bloomberg reported, Mnuchin said that “the banks have raised an issue around intra-day liquidity, and that is something that makes sense for regulators to look at”.

S&P 500 has meanwhile hit the fresh all-time high of 3047.9, before retreating below the previous high of 3044.1. The 3100 handle, which is the 127.2% Fibonacci extension of the October 2018 – December 2018 correction lower, remains the main target for the bulls.

On the downside, the down-slipping trend line that connects the recent swing highs comes at 3013.Download our latest quarterly market outlook for our longer-term trade ideas.

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