The Gravy Train Continues In The Dow Jones

Dow Jones Futures--- The Dow Jones in the September contract settled last Friday in Chicago at 21,207 while currently trading at 21,323 hitting another all-time high as I was originally recommending a bullish position in the June contract at 21,000 and if you took the trade now place the stop in the September contract at the 10 day low of 21,064 as the chart structure will also improve early next week therefore lowering the monetary risk.

The Dow Jones continues to move higher despite the fact that the NASDAQ 100 dropped 80 points this week right at a 4 week low as rotation out of the NASDAQ & into the Dow continues as this market remains bullish in my opinion as who knows how high prices can actually go.

The Dow Jones is trading far above its 20 and 100 day moving average telling you that the short-term trend is higher as low interest rates in the United States continue to prop prices higher with possible growth coming back for the 1st time in nearly a decade coupled with the fact of massive stimulus plans possibly taking effect later this year continuing to support prices to the upside so stay long as this trend clearly gets stronger on a weekly basis.TREND: HIGHER –CHART STRUCTURE: IMPROVING

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