DJIA NEW RECORD – 17,138

The Dow Jones Industrial Average closed at a record level on Wednesday again, for the 15th time of this year. The reason is most possibly are better-than-expected corporate earnings and the Federal Reserve’s Beige Book, which said that economic conditions and labour markets showed improvement across the country into early July, gave stocks a late lift.

The point is that it was again a green day on the Wall Street.

• Dow +0.45%
• Nasdaq +0.22%
• S&P 500 +0.44%

There is no doubt of a bull market. Getting to be a bit boring each day the market marching higher and higher, but that is a nice and profitable template.

The Dow Jones only does what we expected and forecasted last week – new record price. The breakout is obvious by now, the index closed above the key support level of 17,050 and we are expecting more gains.

The BFM Assets Team.