Since breaking above the 2007 high, the Dow’s been on a tear — eager to leave 2007-2009 in the past.

In so doing, it sliced right through the white 1.618 extension of the 2011 correction and the 1.618 and 2.24 extensions of the drops from Apr 2012 and Sept 2012.

What’s next?

continued for members…

DJI just tagged the purple 2.618.  And, about the only 2.618 left is the red one at 15,587 — only 22 points higher than the May 22 high (the equivalent of SPX 1687.)

While it’s hard to say for sure whether there’s another immediate leg higher for the Dow, the channels also indicate the end might be near.  The red channel appears to be running out of room, while the white .75 is also in play.

The little purple channel has had no problem levitating DJI higher, but it will soon run smack dab into the top of the red one — not to mention the Fib level discussed above.

In other words, something’s gotta give.  We’ll need to see a break above the red .786 Fib (hourly chart) and the purple channel midline in order for any further upside to take place.

The daily RSI shows resistance in the near term, but a still-positive medium/longer term if it can remain above the purple mid-line.

It’s a picture with which the 60-min RSI agrees.

Stay tuned.