DOW Finds Some Support

The DOW has formed a nice upward trend channel over the past 8 months. As you can see, the DOW has successfully tested the trendline support and continues to move higher over the past few days.

Although the DOW closed down a few points today, in the bigger picture the chart seems to be setting up for a another leg up. A strong uptrend over the next few months could get the DOW back up to the top of the range and approach the 15,000 level.

Based on the chart, I would not be surprised if the DOW hits 14500 by year end.

DOW Daily Chart