Dow Hits New Bull Market Highs

Don't look now, but the Dow just hit a new intraday bull market high. As shown below, the start of November looks much like the start of October. Both times the Dow traded down to its 50-day moving average, held support, and then bounced nicely to make a new bull market high a week or so later. While the Dow has hit a new bull market high, the S&P 500 is still a few points away. Will it soon follow?

click to enlarge

Comments

[berated:]

"...the Dow just hit a new intraday bull market high."

Based on valuation? Can't be.
Based on speculation? Ya you betcha.

"It's like deja vu all over again" - (h/t Yogi Berra)

Nov 09 12:56 PM

[bartpr:]

investors are now in rick avoidance. small caps have taken a back seat now. the market is not broad but isolated. maybe time for a correction. next few weeks may tell.

Nov 09 01:33 PM

[jr007:]

Shorts taking it in the shorts!

Nov 09 01:57 PM