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The strong close from Tuesday in the S&P 500 index was stopped dead in its tracks at the new all-time closing high price of 4415. It should be noted that it was only a few ticks over its former all-time closing high price from July 26 (4414.25).

The attempt to rally off the open came up well shy of the premarket high, only reaching 4408.25.

There was one significant breakdown at 11:45 AM EST to 4391.25, which was just under the weekly swing level for the week at 4392.25.

Big tech was a drag on the index, besides Facebook (NASDAQ: FB) which rebounded from its post-earnings haircut.

The remainder of the session was a battle for 4400, with the index criss-crossing that level multiple times before ending the session 20.25 handles lower at 4394.75.


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