Dow investors ‘waiting for a top’

<p>The Dow Jones has continued to edge higher.</p>

The Dow Jones is up again today (April 11th) after it reached a new peak in yesterday's trading.

It rose by 14 points, while the Standard and Poor's 500 Index was up by 0.7 per cent, reports Reuters.

Speaking to the news provider, Andre Bakhos, director of market analytics at Lek Securities in New York, explained the markets are currently on a "mission".

He stated investors have been waiting for the sign of a topping out of the market before they begin to take their profits out.

"Wall Street bears have been looking for a top for months now, it hasn't emerged and no one knows what could create a top," said Mr Bakhos.

He explained the index will carry on rising until there is evidence a top could be on the way.

At the end of trading yesterday, both the Dow Jones and the Standard and Poor's 500 Index closed at new record highs.

The Dow rose by 0.4 per cent up to 14,673.46, while the Standard & Poor's 500 Index advanced 5.54 points, or 0.35 per cent.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.