No new record high for the Dow Jones yesterday

Following on from the previous update, noting the new records reached on the Nasdaq 100 yesterday, the Dow Jones did not match those. The index failed to climb past the current all time high (set on February 2), at 38,783. The index did set a new opening high though, when it resumed live trade at 38,702. As also noted here at the time, the index very quickly stepped back from a session high at 38,755 and that relapse saw it fall to a low at 37,544. However, it was not down and out, because the rebound that followed after the European close saw it bounce back and it later ended the day at 38,726, with a gain of 48 points on the session. The index is currently priced to reopen broadly unchanged later this afternoon. Technically it is not overbought and so much will depend on whether there is fresh demand for the index heading into the weekend