Dow Industrials have hit a new 2.5 year high on an intraday basis, passing the old intraday high of 12,391.29 on February 18.
The Dow dropped almost 800 points in the days after that to 11,613 on March 16 before climbing all the way back. This will please Dow theorists because the Dow Transports have also hit a new high simultaneously (a confirmation of an uptrend).
(See: Why Dow Theory Mavens Are Happy)
In addition, the broad market is rallying as well: the Mid-Cap Index is at an HISTORIC HIGH, while the small-cap Russell 2000 is also at a 2.5-year high but is also just a few points shy of an HISTORIC HIGH as well.
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