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The Dow Jones Has Eased Off..

The Dow Jones has eased off from its all time high of 14,887. I don't know how deep this pull-back will be, but I wouldn't worry about it yet. We just have to monitor it day by day. My first support for the Dow is at 14,400 and if the Dow can pierce through it then my next support would be at 14,000. As of right now, I don't really see that we would be in a major correction.

There are a few things that have caused the market to lose its strength. Today, the weekly jobless claims came in a little higher than anticipated and the leading indicator is weaker than its forecast. It's not a big disappointment. I think most traders will forget all this by next week and start buying again.