Dow Jones 30 Forecast November 25, 2015, Technical Analysis

The Dow Jones 30 initially fell during the day on Tuesday, but turned around at the 17,700 level to form a bit of a hammer as we showed signs of support. Ultimately, we believe the market should continue to go higher, but will have to break above the 18,000 level to have real strength for longer-term moves. Pullbacks continue to have buyers show up below, so having said that it’s only a matter time before we start going long yet again. There is no interest on our part of selling this market until we get well below the 17,200 handle.