Dow is 130 points below its all-time high. It may be disappointing to bears, but the V-shaped recovery of August and the current smooth consolidation over 17.000 speaks for the market’s strength and further potential. In my opinion, the market will set new record levels very soon. The point is to keep these levels after the breakout occurs. There is significant support from the 50-day and 100-day SMA, at 16900 & 16800 respectively.
Chart courtesy of StockCharts.com. http://stockcharts.com
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