Posted Dec 19, 2014 by Martin Armstrong
The Dow elected only the Daily Bearish on Monday not last Friday which was also a Weekly. Therefore, no Weekly Bearish has been elected leaving 17235 intact. Hence, a closing today above 17,758 today will be an indicator that higher highs are yet to be made. A closing above 17970 will signal a breakout to upside.
We can see that the technical overhead resistance still remain in the 18300 level. It still appears we are headed higher into 2015. The key in the mid 18000 range. Exceeding that opens the door to the 23,000 level and exceed that could lead to a major Phase Transition into the 2017-2018 period as capital flees government debt everywhere and runs to the private asset sector.