Market Direction and Stock Trends

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==> ALERT: Dow Exceeds 23,000
By: Marty Armstrong | October 18, 2017

The stock market has jumped after just testing 23,000 yesterday. Even Gold fell for a third straight session on pressure from a firmer dollar amid speculation that the next chair of the U.S. Federal Reserve could be a policy hawk. But additionally, you have Gary Cohn correctly stating that for America to be competitive in the world economy, it must introduce permanent tax reform and not just a tax cut that will last until the Democrats get a hold of power.Today was a Direction Change so caution is advisable. We now need to close above 23100 to keep the market somewhat firm. If we exceed today's high, then we can rally into Friday. Otherwise, we can consolidate briefly. Keep in mind that a Vertical Market does not give people a lot of chances to buy dips. It draws everyone in and the majority bullishness comes finally at the very end.

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With Bitcoin all you hear is tremendous bullishness, In the Dow, all we have heard is it's too high. The market is simply pushing through as short keep getting stopped out and capital is pouring in from especially Europe.Only a daily closing now below 22850 will signal a pause.

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