The Dow continues to press higher. Despite the yelling and screaming this is a huge bubble. The oscillators even dispute that claim. Here is the Dow reconstructed back to 1790. We are just starting to poke through to the upside warning that high is not yet in place.

Our year-end number for 2013 was 16,312 and the Dow closed at 16,576. This year, our key resistance for the annual closing stands at 18,546 with support forming at 17,436 and 16,990 until next October. The Dow has broken into the 18,000 level and we must pay look out for a closing above 18,546. That level would signal a test of 20,965 which could follow next year.