Dow reaches a record high. 30K the next stop.

Technical Analysis

Author: Greg Michalowski | dow

New all time high at 29,974.23

The Dow industrial average has reached a new record high at 29,974.23. That also takes the index closer to its next major milestone at 30,000 Dow (that is worth a new hat or t-shirt).  In March, the Dow fell below the 20,000 level on the way to the pandemic low at 18,213.6.   Since then, the price of the index has risen some 64%.

New all time high at 29,974.23_
Technically looking at the daily chart, the most recent low from the beginning of November bottomed at the 200 day moving average (green line).  The last 12 days has seen the price gapped above the October high at 28,957.90, and pretty much stay above that level. The index has seen ups and downs but seems poised to make a run toward the 30,000 level (and we can see what happens then).

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