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Dow Jones Outlook

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DJFOR-D 12-19-2013

The Dow made new highs and achieved the high closing yesterday and this has set the stage for a rally that could extend into Monday/Tuesday next week. A closing above 1611225 today will signal that some further upside is likely.

DJIND-W 12-19-2013

Keep in mind that we are pressing against key resistance in the 16650 area. The oscillators are also at the top and warn that we will see a correction before breaking through and running to the upside out of the uptrend channel. There will be a retest of support. The pattern is critical if we see that into Feb, or do we get a high into that period and a decline thereafter into the summer.