Last week's shooting star on the Dow and S&P I drew attention to in the post above, did not, or so far has not produced the selling I thought it might, but, its high of 28,965 has not been reached yet, so until the price breaches it to make new highs, there is all to play for.
I know that everything points to higher prices on all the major US and EU equities with the amount of money printing going on by the central banks, and it is very hard to see otherwise, but having said that, the technical picture, even in this extreme current bull market, does suggest a potential market top, so we will have to wait and see whether last week's high can be breached, because if it can be, then I think we may well see further strong moves higher. For today on the Dow, I do have potentially strong resistance from around 28,914 - 930, we we'll see if this area can contain the price if it gets back up there.
I know that everything points to higher prices on all the major US and EU equities with the amount of money printing going on by the central banks, and it is very hard to see otherwise, but having said that, the technical picture, even in this extreme current bull market, does suggest a potential market top, so we will have to wait and see whether last week's high can be breached, because if it can be, then I think we may well see further strong moves higher. For today on the Dow, I do have potentially strong resistance from around 28,914 - 930, we we'll see if this area can contain the price if it gets back up there.