Dow Jones sets a double top on the daily charts just short of 36,300

On Friday the Dow Jones rose to its best level of the year, when it reached a high of 36,296. It had earlier reopened at 30,084. The index just surpassed the high seen earlier in the week, when it first stalled at 36,292 on December 6. The index later closed on Friday at 36,247, with a gain of 130 points on the day. Now, despite posting its highest weekly close of the year too, the index also set in place a clearly defined double top on the daily charts last week (36,292 and 36,296). The index futures have shied away for rising above either of those levels so far today. Right now the index is priced to reopen at around 36,235, so slightly in the red for the time being. Therefore, it remains to be seen if that double top will hold and there will be more downside to come, or it will become a target to aim at, when live trading resumes this afternoon.