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Dow Jones sets new all time record high above 37,500

The US stock markets are still showing little sign of backing down as the pre-Christmas rally extends to fresh record for the Dow Jones and the Nasdaq 100 this afternoon. The Dow Jones reopened earlier at 37,311 which was a record opening level. It has since risen to a new all time high not too long ago, at 37,503. It is just backing off slightly from there now, as the dollar continues to come under pressure this afternoon. The Dow Jones is further into overbought territory, with the 14 day RSI (Relative Strength Index) now at around 86.45. It can continue like this for sometime though, before a correction will kick in and right now there seems no catalyst for that, unless perhaps the Fed boss might reverse what he said last week, to spoil the party that he started. The Dow Jones is currently trading at 37,485

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