The Closing Print live trading and financial blog during market hours.

Market Pundits Calling a Top While Industrials Break Out and U.S. Dollar Edges Lower

The majority of Dow Industrial components are breaking out, trending above recent pivot highs, apparently benefitting from temporary weakness in the U.S. Dollar and U.S. Bonds. Caterpillar, Boeing, JPMorgan Chase and 3M are a few of the shining examples.

Dow Industrial Component – Caterpillar

Money flow and price action suggest institutions have filled their portfolio positions, eager to see price accelerate back to the 158.00 (+/-) level. The 50d is turning quickly.


CAT Break Out


RSI and MACD indicate that bulls remain in control, therefore any minor pullbacks or flags should get bought. In the interim, price is appreciating, netting  (+10.68%) to date. We will continue to tighten stops as we near the pivot highs near 158.00 (+/-).

Dow Industrials – One Week Performance

We noticed the watch list for the week was underperforming early on Monday, while the Dow components marched higher. Shifting an emphasis quickly is strengthening our resolve in these 30 stocks this morning. We’ve ranked by one-week performance. Members in the room are actively trading the top performers, so we acknowledge that most of us are on the same page.


DOW Industrials Performance 09-20-2018


We intend to focus on the Dow 30 Industrials until they stop working.

Futures are higher. S&P 500 is trading all-time highs this morning.

Why are the Markets Trading Higher?

This morning, CNBC “experts” persist with the flawed “trade war” mantra, while many are pointing to a top. A few are starting to question why the market is trading at all-time highs this morning. One answer is very straightforward.

There is no overhead supply at all-time highs. We’ve not traded at these levels, therefore no-one is eager to sell to advancing prices. In addition, if you acknowledge the significance of after-hours block trading this week, it’s easy to conclude that institutions want higher levels before creating a new pivot high.

All of those blocks are congregating below us ( 8 million, 10 million 25 million, etc.) while 52-week highs persist. All of this points to higher prices. We suggest following the money. Price is King!

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Happy Trading,



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