Dow highs?

By Julian Yosovitch

September 11, 2014 • Reprints

A break above 17,150 will enabled new rallies to take the market higher to the 17300-17500 area and more ambitious front values near 17,900 points.

The Dow has returned to an area of previous highs and in recent weeks the market has found a strong resistance located at 17,150.

In case the market fails to exceed 17,150 points, we could see weaknesses that must be harnessed as a buy opportunity, finding support at 16815 or potentially 16,600--where the increases should continue higher.

Only with a direct break below 16600 will the bullish move turn bearish causing further lows to 16300-16250 and the key short- and medium-term support for the Dow will continue.