PRE OPEN LOOK

The all important DOW JONES INDUSTRIAL AVERAGE will again be on the radar screen as it is just 33 points away from an all time closing high and about 66 points away from the all time high. Of course if you really don't have much interest in following price weighted indexes, I can understand it. Anyhow, I expect the boys will hit the target shortly and then the fireworks should begin as to whether we continue higher or something else developes.

Yesterday's action was pretty "telling" as we had a lousy durable goods order in the morning which the markets quickly shrugged off; higher oil prices, which the markets also shrugged off into the close and today we have GDP revised downward and higher rates on the 10 year Bond. I expect more shrugoffs as it appears to this trader that this market wants to at least tag the old DJIA high.