NEW YORK ( TheStreet) -- The Nasdaq has been the best performing of the five major averages over the last few weeks setting a new multi-year high at 3817.98 on Oct. 1. The Russell 2000 joined the Nasdaq with a new all-time high set that day at 1087.78 on the Russell 2000. While this speculative phase of the stock market evolved Dow Industrials peaked at 15,709.59 on Sept. 18 with the S&P 500 peaking at 1729.86 on Sept. 19 and the Dow transports peaking at 6754.81 on Sept. 20. We are now on watch to confirm all five highs as cycle highs this week or next.The weekly charts for Dow Industrials, S&P 500 and Dow transports will be negative with closes this week below their five-week modified moving averages at 15,125.10, 1676.02 and 6511.27 respectively.
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