US indexes around the tops

U.S. stocks on Wednesday fell again. That was the third day in row. Still there is some uncertainty over the cuts in the Federal Reserve’s monthly bond buying program. But against the concerns the indexes are still very bullish. I am not surprised by this because the market slowly get familiar with that QE tapering. In the market’s view the world could exist without stimulus.
This week around 1% is unremarkable. Still we are over double-digit rise so far this year. DJIA -0.31% closed down 48.07 points to 15,470.
The Dow last week was at an all-time high of 15,658.
The S&P 500 index SPX -0.38% shed 6.46 points to 1,690. S&P 500 last Friday closed at a record 1,709.

Technically on Dow there is a huge support level at 15.400, until it holds the index the trend is unbroken and very bullish. That is nice behavior against the summer the market is close to the top, it shows how the strength the long side momentum.

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