21,545 is the key level on the Dow index

Daily chart

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The trend line has come to the rescue again… but the RSI is overbought and has been so for the major part of last 8 months… It was last overbought in 2013.

Markets are cheering Yellen’s slightly dovish take on interest rates, however, once again what is being ignored is the reverse QE = Balance Sheet runoff.

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