Haven't got a chart for you but I am sure you can find plenty on the web, Bigcharts etc.
My view is that our market is pretty stretched, which doesn't mean it can't keep going up with a 2 steps forward 1 step back approach. This is what markets have to do when indicators get extreme and it hasn't reached its goal. Friday was not a breakdown in my book. Although it is a good time for a correction it takes a big down day or several smaller ones to do it.
Getting back to the Dow, it can be argued that the last couple of years are either exhaustion or consolidation. This weeks action is a positive of course. To fight it one would need knowledge that I don't possess. Some smart people are suggesting that this lastest move is the final exhaustion move. I don't know. My view is that the breaking of simple moving averages are always the proof of suspicion in the main.
I guess I'm rambling. Sorry.
DOW Price at posting:
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