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Dow Jones closes above 37,000 for the first time ever

I know I covered the rise above 37,000 in the Dow Jones last night, but such is the importance of the move that I feel compelled to add to that this morning. The Dow Jones did not look back one bit into the close last night either and extended its charge higher, to ensure it set its first ever daily close above 37k, when ending the US session at 37,090, with a gain of 512 points on the day. The push above the previous all time high at 36,952 reached last year does open the topside and looking at the longer term chart right now, I simply cannot dismiss the prospect that I might be reporting on the index trading above 40k at some point in the future. However, I am not going to get carried away with that because it is only a chart based dynamic that I am looking at here and not a fundamental prognosis. That said we are in uncharted territory now, just like the DAX and it will not be easy to navigate. That said the Dow Jones futures have not looked back since the US close and have priced the reopening at above 37,200 earlier. They are currently pricing it at around 37,190
 

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