Dow Jones Industrial Average Hourly – September 17, 2012

Dow Jones Hourly -

The Dow hourly clearly looks like it is in yet another corrective wave pattern ready to push onto new highs later in the week.  The MACD has topped and turned down – following this corrective move.  If markets do not head down sharply in the next day or two, we are likely in for more new highs.  Keep in mind earnings season occurs in a few weeks and with a stalled economy, this nonsense of an endlessly climbing market should come to an end.

Click on chart to enlarge Dow Jones Industrial Average Hourly – September 17, 2012