The DJIA made another new all time closing high today by closing at 17,265.99. Today’s record close is slightly different than yesterday’s record close for the DJIA. The difference is the SP500 also close with a new all time high along with the DJT. In addition, the Nasdaq 100 also closed with a new multi-years high. The market breadth was pretty much the same, marginally positive but still relatively weak.
The state of the market has not change, a top still has not been made. Continue to monitor for at least another new high from the DJIA until the market has indicated it has topped.
(click the chart to enlarge)
The market is transparent on its intention as every move is reflected on the price. It will tell you what it is planning to do, but it won’t tell you how it will get there! Just listen to the market and watch the price action! Do not get blind sighted by the bias or opinions. Trade your plan and manage your risk.