The Dow Jones hits another all-time high

The Dow Jones Industrial Index just keeps going higher, breaking new record highs. On Monday the index rises 0.20% and reaches the 19811 zone. If the rally continues, the Dow may try to reach the 20000 level. So far the post-election rally is extending and there could be further surprises towards the end of the year and maybe next year. But the index is clearly over-extended to the upside and it could be ready for a bearish correction. To the downside, the 19278 level may act as support, since around that zone the index tried to consolidate. Also, the 18771 level may also act as support since at that level we can see the 55 day EMA. But something really amazing has to happen in order for the Dow to drop that far down in the short term.