Dow Jones sets a record close above 42k

As noted earlier, both the Dow Jones and the S+P 500 set new all time highs yesterday and both set new record daily closing levels. The Dow Jones set a new all time high at 42,160 and later posted its first ever close above the 42k handle, at 42,025. Of course this has all stemmed from the outsized Fed rate cut on Wednesday. The high seen yesterday came just ahead of what is an upward trend line coming in at around 42,185 on the daily charts. Apart from that, seeing as the index is further into uncharted territory, there really is little to suggest further meaningful target points on the topside from here in the short term. However, look at the weekly charts and you might see something similar opening a potential path towards 44k over time. That is not on the radar for the rest of this week though. The Dow Jones futures are right now indicating a largely unchanged opening for later today