Dow Jones Industrial – Outlook For November 18, 2014

DJIA holds on to its all-time highs, around 17.600. The short-term trend will remain very bullish as long as the index remains above 17.500. There is also a huge level of support @ 17.280 (September high). The market has been working off its “overbought” conditions during the last couple of days, which is very positive. My guess is that it will resume its long term upmove soon. Corrections will probably be used by dip buyers to enter the market.

Dow Jones Industrial, 5-hour candles:

Dow 30(5 Hours)20141118111816

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

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