The green days, weeks and month continued, US indices finished the holiday shortened week and November in green again. During last week the Dow Jones rose to another record and in November closed its second month of gains and its best performing month of the year. The index has ended the month without having lost ground since 15th October. The Dow Jones has held onto their 6th straight week of gains, this the longest winning streak in 2014. The DJIA and S&P posted their second straight month of gains. 8 out 11 months they gained which is prove of bull market. The Nasdaq closed up 1.7% on the week and posted its six week winning streak since February 2013 and also posted a second month of gains also. The Tech Index gained only 7 out of 11 months.
DJIA rose 2.5% in November, finished its 31 record and showed the strength of the bullish momentum. What about the coming December? Historically it is the best month in the history of DJIA for more than a century and the performance can boost further.
Technically all three US benchmark indices are in uncovered territory at historical record levels. The DJIA has been consolidating at the area of 17.750-17.900 in the last week, so to be more bullish we have to see some breakouts from 17.900’s level.
The BFM Assets Team.
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