The S&P 500 is inching closer to its January 2018 high of 2,873 and may circle back to that level this summer.
That's the assessment from Matthew Cheslock, an equity trader with Virtu Financial, based on the floor of the New York Stock Exchange, provided the market sees a new leadership, such as financials, as opposed to solely technology.
The S&P 500 is currently at 2,820 or roughly 1.9% below 2,873.
(Editor's pick. Originally published July 25.)