|Today, the Dow Jones Industrial Average made a new, all-time record high. For some perspective, today's chart illustrates the overall trend of the Dow since 2003. As today's chart illustrates, the Dow has rallied sharply since early 2009. Over the past six years the Dow has maintained a trend that remained well within the confines of an upward sloping trend channel (see green and red trendlines). Notice how the Dow struggled from early 2015 to early 2016 resulting in the Dow retesting support (see green line). Since early 2016, however, the Dow has rallied sharply and is now trading at a level never seen before.Notes:
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Quote of the Day"When stock prices are rising, it's called 'momentum investing'; when they are falling, it's called 'panic'." - Paul Krugman
Events of the DayJuly 14, 2016 - Bastille Day (France) - British Open golf tournament begins (ends July 17th)
July 25, 2016 - PGA Championship begins (ends July 31st)
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