Good afternoon, Elliott wave fans. I’m Dana Weeks with Market Minute for Monday, July 15th.

Today was an important day. The Dow, S&P and Nasdaq all made new intraday record highs. And the Dow met two converging trendlines. But more stocks closed down on the NYSE than closed up. Does that matter?

The Dow Industrials closed at 27,359, up 27.13.

The S&P 500 closed at 3014.30, up .53.

The NASDAQ Composite closed at 8258 up 14 points.

1,397 stocks closed up while 1,444 closed down. TRIN was 1.37.

E-mini S&P futures topped out at 3021.50, had a low of 3012.50, and closed at 3017.25. E-mini Nasdaq futures hit a high of 7992, a low of 7961.25, and closed at 7986.75.

In late trading:

T-bond futures were up 11 tics at 154^02.

The US Dollar index was up .12 at 96.94.

Gold was up 4 bucks at 1416.20.

Silver was up 18 cents at 15.41.