DOW JONES hits new record high on probe above 24000 barrier
Dow Jones hit new all-time high on Thursday, on probe above psychological 24000 barrier. Future contract for December delivery hit the highest level at 24039, in extension of uninterrupted bull-leg which extends into sixth straight day.
No signs of fatigue seen so far despite strongly overbought daily studies, with price riding on extended fifth wave of five-wave cycle from 21713, which eyes its 300% Fibonacci expansion at 24198.
The index is running for the second strong bullish monthly close, part of eight-month uninterrupted bullish action which accelerated further in past two months.
Corrective action should be anticipated in coming sessions with extended dips expected to find footstep above rising 10SMA (currently at 23608).
Res: 24046; 24121; 24198; 24255
Sup: 24000; 23892; 23790; 23644