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Investing

DJIA 17,000 … Almost, for Now

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Does the level of 17,000 on the Dow Jones Industrial Average really mean anything at all on a technical basis? The real answer is no, but the trading action may seem to signal something different on Tuesday. The new current high, until the next high, is 16,998.70. This means that the DJIA came within a mere 1.30 of hitting DJIA 17,000.

Until tomorrow… or soon.

Here were the best performing DJIA stocks of the first half and of the second quarter. Also, here are the ten stocks that will take the DJIA to 20,000.

If we have the  thesis that ten stocks will lead the DJIA to 20,000 then we think the 17,000 marker is just an invisible line rather than a wall. That being said, markets tend to attract serious profit takers after new milestones have been hit. In fact, a correction is long overdue – and it might even be a welcome sign for buyers.

Contact [email protected] for any questions or corrections.

Disclaimer: Energy Exploration Technologies, Inc. ("EnergyX") has engaged 24/7 Wall St to publish this communication in connection with EnergyX's ongoing Regulation A offering. 24/7 Wall St has been paid in cash and may receive additional compensation. 24/7 Wall St and/or its affiliates do not currently hold securities of EnergyX.

This compensation and any current or future ownership interest could create a conflict of interest. Please consider this disclosure alongside EnergyX's offering materials. EnergyX's Regulation A offering has been qualified by the SEC. Offers and sales may be made only by means of the qualified offering circular. Before investing, carefully review the offering circular, including the risk factors. The offering circular is available at invest.energyx.com/.

Comparisons to other companies are for informational purposes only and should not imply similar results. Past performance is not indicative of future results. Market shortfall are forward‑looking estimates and are subject to substantial uncertainty. Investments in private placements, and start-up investments in particular, are long-term, illiquid, speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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