The Dow just punched above an important line in the sand that may signal that a record high is next – MarketWatch

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The Dow closed above a crucial technical level that is seen by market technicians as

The blue-chip standard’s surface at 25,364.89 on Wednesday, signals to market professionals that a brand-new pattern has actually been developed and that the next relocation for the Dow may be eclipsing its record high put in on Feb. 12 at 29,551.42 (see connected chart).

suppress the spread of the COVID-19 pandemic.

The Dow’s rally on Wednesday afternoon represents a stable approach retracing 61.8% of the 124-year old standard’s coronavirus selloff from its record high in February to a low late March.

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