Dow off its highs
After the strong end to 2017, for which President Trump was keen to take credit, the Dow Jones Industrial Average lost a little momentum as the market came back to full strength after the end of the Xmas/New Year holiday season. It has scaled back from of 25,380, and currently trades 130 points lower at 25,250. Some profit-taking is perhaps inevitable – there are no signs that the trend has come to an end. Indeed it is probably no more than long-term Bulls locking in some prudent profits. There will undoubtedly be opportunities to buy cheaper as the Dow will inevitably succumb to altitude sickness at some point and clear out some nervous bulls, but the trend remains resolutely upwards.