Dow Jones 30 Price Forecast – Dow Jones 30 Continues to Find Supporters

Dow Jones 30 Technical Analysis

The Dow Jones 30 has rallied a bit during the early hours here on Thursday, celebrating the idea of loosening monetary policy in the United States. The question, of course, is whether or not the Federal Reserve just cut 50 basis points out of fear, or is it some type of new playbook that they’re bringing out? Because quite frankly, the last couple of times we’ve seen 50 basis point hikes were right before the Great Financial Crisis and the technology bubble that burst in 2001.

So, while that doesn’t guarantee that’s what’s going on, it is something to think about. In the meantime, the market is in the midst of breaking the top of a pretty significant shooting star, so if that does end up being the case, then we should continue to go higher. It’s worth noting that this big candlestick was formed pre-market, not during the market, so you can only read so much into it, I suppose.

As things stand right now, I would anticipate that short-term pullbacks towards the $41,400 level will be of interest, but we just broke $42,000, so we’ll have to wait and see if we just simply melt up. That’s a very real possibility here, and you could even make the argument that we just broke the neckline of an inverted head and shoulders, which of course would be very bullish, with a measured move of about 7% higher from the middle of the candlestick. So that could set up something rather special as well.

For a look at all of today’s economic events, check out our economic calendar.