S&P 500 back near high after blip in uptrend

Stocks in the United States rose last week to recover most of the losses in January and early February.

After reaching an all-time high of 1,848.38 on 15 January, the Standard & Poor's 500 Index had fallen 5.8 percent to close at 1741.89 on 3 February following concerns over emerging markets.

Since then, however, US stocks have bounced back. The S&P 500 added 2.3 percent last week to close at 1,838.63.

The benchmark index is now up 5.6 percent from its low in early February and is less than 10 points away from its all-time high.

As the following chart from StockCharts.com shows, the fall last month now looks like just one of several relatively minor blips in the market's longer-term uptrend.