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.
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.
