According to a Piper Sandler senior technical research analyst the S&P 500 will continue to gain following its record high on Tuesday.
The S&P 500 was up 0.2% to 3,396.5 in Wednesday morning trading.
It has gained 4.92% year-to-date through Tuesday’s close.
The analyst, Craig Johnson told CNBC that charts of lumber, oil, and industrial metals show that the economy is improving.
One of the "key factors" for portfolio managers looking to outperform in the second half of the year will be to pivot into cyclical stocks.
