Technically speaking, the big three U.S. benchmarks have taken flight, concurrently reaching uncharted territory.

In the process, each index has confirmed its primary uptrend, rising within striking distance of round-number milestones, including the S&P 2,700 mark and Dow 25,000.

Before detailing the U.S. markets’ wider view, the S&P 500’s US:SPX hourly chart highlights the past two weeks.

As illustrated, the S&P has extended its break to record territory.

The 2,700 mark is within view, though its projected target technically rests at 2,705. Conversely, the S&P’s first notable support matches the breakout point, circa 2,665.

Similarly, the Dow Jones Industrial Average has tagged another record high.

The upturn punctuates a successful test of the breakout point, circa 24,500.

Conversely, recall that the Dow’s target projects to the 24,970 area, slightly under the 25,000 mark.

Meanwhile, the Nasdaq Composite has extended its breakout, rising to the 7,000 mark.

Tactically, potential near-term support rests at 6,975 and 6,945, levels matching the top, and bottom, of this week’s gap.

The Nasdaq’s first notable floor matches the November peak (6,914) better illustrated below.

Widening the view to six months adds perspective.

On this wider view, the Nasdaq has gapped to all-time highs, rising from a successful test of trendline support.

The index has thus far topped just above the 7,000 mark. Its near-term target technically projects from the December low to the 7,095 area.

Looking elsewhere, the Dow Jones Industrial Average continues to take flight.

Consider that the blue-chip benchmark has registered 70 all-time highs during 2017, its best stretch on record. This is also the first year that the Dow has risen more than 5,000 points.

To reiterate, a near-term target projects to the 24,970 area, slightly under the 25,000 mark. Monday’s close (24,792) placed the index less than 1% from the round-number milestone.

Similarly, the S&P 500 has confirmed its uptrend with this week’s decisive breakout.

The prevailing leg higher builds on the steep late-November rally, a move encompassing four consecutive closes atop the 20-day volatility bands.

The bigger picture

Broadly speaking, the bigger-picture market technicals remain relatively straightforward and firmly-bullish.

On a headline basis, the big three U.S. benchmarks have concurrently knifed to all-time highs, confirming the primary uptrend. By definition, each index is traversing uncharted territory, capped by no true resistance.

Moving to the small-caps, the iShares Russell 2000 ETF continues to lag slightly behind.

Still, the small-cap benchmark has spiked to a record close, rising to challenge the absolute December peak (155.41).

The upturn punctuates a successful test of the breakout point, an area closely matching the 50-day moving average, currently 149.80.

Similarly, the S&P MidCap 400 has notched a nominal record close.

But here again, the MDY remains capped by its absolute record peak, defined by the December high (349.16). This week’s upturn punctuates a successful test of near-term support, circa 340.40.

Summing up the backdrop

All told, the widely-tracked U.S. benchmarks continue to trend firmly higher against the backdrop of healthy U.S. sector rotation.

Several round-number milestones are within view. The S&P 500’s target technically projects to 2,705, the Dow industrials’ target projects to 24,970, and the Nasdaq Composite has briefly tagged the 7,000 mark.

Tactically, the S&P 500’s former range top (2,665) pivots to support and is closely followed by a floor matching last week’s low (2,652).

Delving deeper, the S&P’s 20-day moving average, currently 2,640, has marked a useful trending indicator. The index has notched just one close lower since late-August, and its near-term uptrend is intact barring a violation.

See also: Charting a bullish technical tilt, S&P 500 vies for third straight record close.

Tuesday’s Watch List

The charts below detail names that are technically well positioned. These are radar screen names — sectors or stocks poised to move in the near term. For the original comments on the stocks below, see The Technical Indicator Library.

Drilling down further, the SPDR S&P Retail ETF US:XRT continues to act well technically.

The group initially spiked four weeks ago, clearing trendline resistance and the 200-day moving average.

The late-November follow-through resolved a double bottom — the W formation, defined by the August and November lows — amid a sustained volume spike.

More immediately, the tight December range has been punctuated by this week’s lift to nearly 52-week highs, its best level since Dec. 22, 2016. This is a continuation pattern, positioning the group to build on the decisive November breakout.

Tactically, first support (45.00) is followed by the range bottom, circa 43.50.

Moving to specific names, Intel Corp. US:INTC is a well positioned Dow 30 component. (Yield = 2.4%.)

Technically, the shares have knifed atop trendline resistance, rising after a positive industry research report. The breakout punctuates a successful test of the 50-day moving average, an area matching the top of the October gap.

Recent strength has been fueled by increased volume, likely positioning the shares to retest the November peak, a level matching 17-year highs. Conversely, the trendline, circa 44, pivots to support.

Initially profiled Nov. 1, Twitter, Inc. US:TWTR has returned 19.7% and remains well positioned.

As illustrated, the shares staged a strong-volume late-October breakout, rising after the company’s third-quarter results. The rally resolved a bullish island reversal defined by the July and October gaps. (This is a high-reliability reversal pattern, and has indeed followed through higher.)

More immediately, the shares have gapped to 52-week highs, rising after an analyst upgrade. Though near-term extended, a pullback toward the breakout point (22.50) would offer an attractive entry.

Twitter is also well positioned on the three-year chart.

BB&T Corp. US:BBT is a well positioned large-cap regional bank. (Yield = 2.7%.)

The shares initially spiked three weeks ago, knifing to record territory amid a sustained volume spike.

The December pullback, though jagged, has been comparably shallow, fueled by decreased volume. This is a flag-like pattern — pinned to the late-November rally — improving the chances of eventual follow-through.

More broadly, the shares are also well positioned on the 10-year chart, rising from a 2017 base underpinned by major support.

Ubiquiti Networks, Inc. US:UBNT is a large-cap developer of wireless communications technologies.

As illustrated, the shares have rallied to record territory, clearing well-defined resistance. The rally punctuates consecutive successful tests of the 50-day moving average.

The breakout point, circa 67.80, pivots to support, and a posture higher supports a firmly bullish bias.

Still well positioned

The table below includes names recently profiled in The Technical Indicator that remain well positioned. For the original comments, see The Technical Indicator Library.