Caution's in the wind. But for now most indications still favor this market going higher. During last week's action the markets seemed to hesitate as they drifted near Dow 16,000 and S&P 1800. A rally on Friday finally led to a strong close above these psychologically important levels. It was reassuring to see that investors were comfortable holding their record-high positions into the weekend.
The Dow closed at an all-time high on Friday of 16,064. It's steep upward trend remains unbroken. The last new high for the Transports was on November 15th - only five trading days prior. (Last minute note: The Transports closed at a new all-time high today, as did the Dow, so we again have same-day confirmation of the averages.) This confirmation is supported by the S&P 500 and Russell 2000, which both hit new highs on Friday as well.
During trading today the NASDAQ (shown below) crossed the 4,000 ... Log in or subscribe to continue reading.
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