Unfortunately the quest for breaching the 20,000 mark in the Dow is occurring during a time when there is not a whole great amount of investing occurring, the slow period between Christmas and New Year’s. Because investor sentiment is what moves trends, the lack of buying pressure at the 20,000 level may create discouragement that starts investors to take profits, further reducing the prospects of going through that level at this time. Currently the indexes continue to trade above the T-line. But be prepared to close out positions if the market starts showing definite selling, indicating the major hurdle at 20,000 is not currently going to be breached. However, it is still early in the day.
December 28th Daily Market Comments
Unfortunately the quest for breaching the 20,000 mark in the Dow is occurring during a time when there is not a whole great amount of investing occurring, the slow period between Christmas and New Year’s. Because investor sentiment is what moves trends, the lack of buying pressure at the 20,000 level may create discouragement that starts investors to take profits, further reducing the prospects of going through that level at this time. Currently the indexes continue to trade above the T-line. But be prepared to close out positions if the market starts showing definite selling, indicating the major hurdle at 20,000 is not currently going to be breached. However, it is still early in the day.