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Dow Jones retreats into the close after record high at 40,051

Yesterday as covered here at the time, the Dow Jones finally made it to 40k. The prospect of that major milestone being reached had been highlighted here many weeks back. The high was set at 40,051 and once back below the 40k level, it was a case of profit-taking pushing it back into the close. The Dow fell back to a low at 39,864 and later closed at 39,869, with a loss of just 38 points on the day. What the Dow Jones and the S+P 500 both did; was to set negative outside day reversals, from what was all time record highs on both indexes. That technically negative close could deliver further downside ahead of the weekend too, but as noted many times before, this is not always a consistent indicator. Overnight and ahead of the European opening, the Dow futures have not made any headway and currently pricing a reopening for later today just below where the index closed last night 
 

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