Dow Jones Industrial – Outlook For November 4, 2014

DJIA hovers around all-time highs. 17.350 is a key price as it is the September high, so there may be some consolidation or strong selling at current levels, especially given the “overbought” short term situation. There is no technical indication of a reversal yet, so any short positions should use a stop above 17.400. I guess that Dow will go to 17.500 before any serious downmove takes place.

Dow Jones Industrial, daily chart:

dow

Chart courtesy of Investing.com. http://investing.com

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