The S&P 500 is approaching its all-time high, currently within 0.1% of this milestone. The index has risen by 3.03% from its September low and is now less than 1% away from reaching new records. Despite September historically being a challenging month for the market, there is optimism that stocks might hit new highs. Analysts note that hedges are becoming cheaper, which could be a sign of caution for investors. The SPY, a popular ETF tracking the S&P 500, is also nearing its all-time high, just $3 away from setting a new record. The index is less than 17 juicy points from being up on the month, although this rise is occurring on weak volume, according to Goldman.