MARKET SNAPSHOT: S&P 500, Dow Close At Record Highs For Fifth Straight Day

By William Watts and Barbara Kollmeyer, MarketWatch U.S. stocks eke out Tuesday gains

NEW YORK (MarketWatch) -- U.S. stocks finished Tuesday's thinly-traded sideways session essentially flat, but still mustered enough forward momentum to post record highs for the fifth straight trading session.

The S&P 500 and Dow Jones Industrial Average moved marginally higher on a day absent significant economic data drivers, while the bond market was closed for Veteran's Day.

The S&P 500 (SPX) added 1.42 points to 2,039.68, registering a fresh record. The Dow Jones Industrial Average (DJI) ended the day essentially flat at 17,614.90. The Nasdaq Composite (RIXF) rose 8.94 points, or 0.2%, to 4,660.56.

A sell signal for the S&P? Chris Weston, chief market strategist at IG, said the S&P 500 could be a sell at 2,078. He noted that over the last 18 months, whenever markets reach a point when about 85% of stocks are trading above the medium-term 50-day moving average, the index has hit a ceiling. Four near-term catalysts for the next stock market crash

"Currently 78% of stocks are above the 50-day now, so a move to 2,078 would probably coincide with the top of the channel and back up my view that funds may take some long exposure off the table," said Weston, in a note.

In an otherwise light day for economic data due to the Veterans Day holiday, the National Federation of Independent Business said its small-business optimism index rose 0.8 point to 96.1 in October, a two-month high.

Alibaba's big shopping day: Shares of Alibaba(BABA) fell 3.9% even after its big online shopping day -- "Singles Day" -- raked in more than $2 billion in sales in one hour. See Alibaba's 'Singles Day' bigger than Black Friday

Need to Know: Alibaba's potential 959,729% return and the retail roar of Singles Day

Juniper Networks Inc.(JNPR) late Monday named Rami Rahim chief executive officer, replacing Shaygan Kheradpir, who resigned with immediate effect. Shares slid 5.7%. Read: Juniper CEO resignation clouded in mystery

D.R. Horton Inc.(DHI) reported a rise in fiscal fourth-quarter earnings, but missed consensus estimates. Shares were up 2.2%. Rival home builders also rallied, with the S&P home builders sub sector up 2.6%.

Zynga Inc.(ZNGA) shares surged 11% after Jefferies lifted shares to buy from hold, citing potential from high growth in mobile games.

Other markets: European stocks tracked global markets higher. Gold prices (GCZ4) rose around $12 an ounce as the dollar eased. Oil prices (CLZ4) reversed declines and inched higher, with Brent trading at $77.9. Read: Gold will signal when stocks have peaked.

Investors were also watching the dollar(USDJPY), which hit fresh seven-year highs against the yen as it tapped Yen116. The dollar pared gains to trade at Yen115.45 in recent action. As the yen fell, the Nikkei 225 index rose 2.1%.

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