Dow Jones Industrial Index Going Into Year-End 2014

The Dow continues to press higher despite the yelling and screaming this is a huge bubble. The oscillators even dispute that claim. Here is the Dow reconstructed back to 1790. We are just starting to poke through to the upside warning that high is not yet in place.

Our year-end number for 2013 was 16312 and the Dow closed at 16576. This year, our key resistance for the annual closing stands at 18546 with support forming at 17436 and 16990 until next October. The Dow has broken into the 18,000 level and this warns we must pay attention here for a closing ABOVE 18546 will signal a test of 20965 should follow next year.