Dow Jones Analysis as of the close of 01/08/2017

 Dow Jones Industrials Analysis as of the close of Tuesday August 1, 2017: Identifying when the next turning point should arrive, that seems to be coming this month in Dow Jones Industrials at least on a closing basis if not intraday so stay focused. The key week ahead for a turning point is 7/31. Last month produced a high at 2192980 and so far we are trading neutral within last month's trading range of 2192980 to 2127930. We need to breakout of this range to confirm the direction. Therefore, a close above will be bullish and a close below will warn of a possible decline. Of course the most broader trend has been bullish long-term given that the historical low took place back in 1896. However, the more important recent low formed at 646995 back during March 2009. Nevertheless, this market has made its historical major high so far this year followed by the historical high in 2017, which constituted a 121 year rally. As of the close of Tue. Aug. 1, 2017, the market is immediately in a bullish posture near-term suggesting it is holding trading above the December 2016 high with a rally for the past 6 days with technical resistance at 2208824. Dow Jones Industrials closed today at 2196392 and is trading up about 11% for the year from last year's closing of 1976260. So far, we have been trading up for the past 6 days since the reaction low made on Mon. Jul. 24, 2017, but the key low was made 10 days ago on Tue. Jul. 18, 2017 at 2147114.