New Exciting Thrilling All Time Highs in the Dow Jones Today

Jul 12, 2017: 1:26 PM CST

We couldn’t be more excited!  Let’s celebrate the New All-Time, Never-before-seen, Highs in the Dow Jones Industrial Average!!!

Before we get too bullish and excited, let’s take a look at the prior three new all-time highs and update a new Fibonacci Retracement Grid:

Dow Jones All Time 52 Week High

The Dow Jones carved out two prior “New All-Time Exciting Highs” before today’s event.

The key reference level is the simple 21,500 pivot from which we’ll craft bullish (above) or bearish (beneath) short-term strategies.

We often look to trade the Departure from key levels like this – and that’s our ongoing plan.

On the prior two highs, price returned within the sideways trading range at the high and pulled back at least to the 23.6% Fibonacci Pivot near 21,350.

Until proven otherwise, we’re still within a short-term sideways trading range at the highs.

Continue referencing this grid until we get an actual break-and-impulse above 2,1,500 or beneath 21,200.

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Corey Rosenbloom, CMT

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