Although the DJIA did not make a new all time high yesterday, but it did closed with a new recovery high above the 17,000 level. The question remains will the DJIA make a new all time high by closing above the 9/19/2014 close? The answer to this will come when the market prints the next new recovery high or the next corrective low. In the meantime, the recent rally off the 10/15/2014 selloff is too much too fast and defensive measures should be exercised to protect unrealized gains, and to avoid chasing some of the big movers.
DJIA:
(click the chart to enlarge)
DJT:
