🏆 Today's Chart of the Day was shared by Aksel Kibar (@TechCharts).
- The Dow Jones Industrial Average closed above 48,000 for the first time today, rising for the 4th straight session, while the Nasdaq fell for the second day in a row.
- Tech has taken a well-deserved breather this week, but the Dow’s resilience reflects rotation into areas like Financials and Health Care, with Goldman Sachs ($GS) leading today’s move.
- $DIA is nearing the upper bounds of a rising channel after this 4-day run, suggesting another pullback is likely before we wear our Dow 50k hats. But as Aksel reminds us, this is the definition of a healthy uptrend.
The Takeaway: The Dow notched its first close above 48,000 today on the heels of sector rotation. It’s approaching short-term resistance, but the uptrend is fully intact, and 50k is within reach in the coming weeks.
