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US indices hit new all-time highs. The DJIA reached 33.400 - 33.750 points, 350 points higher than its previous level. Meanwhile, the Nasdaq Composite jumped to 13.670 - 13.850 points, which is 180 points higher than its figure before. The S&P 500 also rose to 4.070 - 4.130 points, clearly 60 points above its earlier statistics.
But even though the DJIA and S&P 500 are at very high levels, the technology index is still below the peak it reached last February 16. This suggests that tech giants are lagging in growth, despite experiencing faster recovery than the rest of the market.
In any case, the situation is interesting because the market is growing even though COVID-19 infection rate is accelerating. In fact, cases are already close to the highs recorded last January, which suggests that a third pandemic wave is emerging.
Of course, whose growth will break first is undetermined, but expect new growth attempts in the US market this week. However, chances of a large correction is also high, so be prepared in case such an event happens.
Forecast: The DJIA may hit 33.400 - 34.100 points this week.
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