TheAnalyst
Long

DOW - Nothing special is happening anytime soon

INDEX:DOWI   DOW Industrials
dow
16 0 1
dow
Price action shows us that the DOW is still following a regular upward cycle. Excitement at a new local high has driven instability in the last few trading sessions, but the strength of the underlying economic forces has not changed at all. There may be a short term easing of the price over the winter quarter, as the Stochastic oscillator shows it to be overbought at this time, but there is no genuine reason to believe that a failure in the underlying structure has taken place. Economies do not suddenly plunge through the floor for no reason other than a new high. I expect a pullback at some point to 16500 and some lateral movement over then next quarter or two, with a return to higher prices later. If the US engages ISIS             in a ground war, this prediction may change.
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