Dow Off to New Highs?
Reply
The Dow closed the week at 13895.98 providing yet additional buy signals warning that we may yet see new highs on Monday. Everything is still on track for a high in 2014. There is a potential for a intraday high in 2015 leaving 2014 as the highest yearly closing. The next key Weekly Bullish Reversal stands at 14169.50. We should see a temporary high next week. We need a monthly closing ABOVE 14280.00 and that will signal a breakout to new historic highs ahead. Our monthly technical resistance stands at 14220.00 during January, while the target resistance for 2015 will stand at 18450 followed by 25825. The projection Channel from 1929 provides the underlying initial support for 2013 at 12640.00.
