DJIA Closes Near 4 1/2-Year High, Marking Five Straight Days of Gains
INVESTORS' PRE-THANKSGIVING cheer propelled the Dow Jones Industrial Average to its fifth straight day of gains Wednesday, leading some traders to worry about a postholiday hangover.</br></br>The Dow temporarily soared as high as 10950 before finishing at 10916.09, up 44.66 points, or 0.41%, and just about 24 points short of a 41/2-year high. The Nasdaq Composite Index and the S&P 500, meanwhile, both reached 41/2-year highs.</br></br>But the rally has left some investors fretting about a reversal. In one ominous sign noted by technically minded traders, the Relative Strength Index has risen to a level not seen in a year. That index measures the relationship of up to down days in the S&P 500, and when it starts climbing it's often read as a sign that the stock market is overheated.</br></br>"You can't go up every single day," said Todd Leone, head of listed trading at brokerage firm SG Cowen. "At some point the market's got to rest."</br></br>Stock and bond markets were closed yesterday for the Thanksgiving holiday, and both markets close early today. Stocks' advances Wednesday came amid sliding oil prices and investors' hopes that the Federal Reserve might stop raising interest rates soon.