The S&P 500 is nearing a high, but is not quite there yet. On Monday morning the intraday price value of the S&P 500 crossed 1527 for the first time in over 7 years, according to officials at Standard & Poor's, the index' creator.

Yet this is not an all-time intraday high for the index, says Howard Silverblatt, senior index analyst at Standard & Poor’s.

Silverblatt points out that the all-time intraday high for the S&P 500 was set on March 24, 2000 when the index hit 1552.87 -- the same day it set the all-time closing high of 1527.46.

The S&P 500's peak for the morning was 1529.56, leaving it a little more than 23 points -- or 1.5 percent -- away from the all-time record. 

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