Near Term Trend: Positive
Friday’s Close: 4,858.91
UPDATE: The Index traded to a new historical high on Thursday.
Continually we have been stating, “By all accounts, the Index is overbought on a near term basis, but tough to fade”.
Our belief that the Index was overbought a few weeks back has had no effect on Investor buying.
Any price action above 4,750.00 keeps this Index on near term solid ground.