The market made another new all time high to end the holiday shorten week. The DJIA, SP500 and the Russell 2000 closed with a new all time closing high. The Nasdaq 100 and the Nasdaq Composite did not closed above their all time high that were made back in 2000, but the Nasdaq Composite did finished the week with a new 52 weeks closing high. As far as the DJT goes, for most of the last trading session it was in the all time record high territory. But it closed a few points below its all time closing high and again failed to confirm DJIA new high.
Unless the DJT is able to close above its all time closing high to confirm the new recording high put in by the DJIA, one should continue to remain cautious and defensive. Focus on the established quality stocks and less on the speculative runners. Good luck and have a Happy New Year!
