Dow Jones 30 Price Forecast – Dow Jones 30 Continues to Look For Momentum

Dow Jones Technical Analysis

The Dow Jones 30 has been going sideways for a while now, and it looks like we will continue to see more of that behavior. Because of this, I am more likely than not to be paying close attention to the 41,600 level as it had previously been resistance and now should be support based on market memory. Furthermore, we also have the 50 day EMA racing towards that area, so I think that is worth paying close attention to as well.

In the meantime, we might just simply go sideways. And if that’s the case, it makes a certain amount of sense that we might be just working off some of the excess froth from the move higher. Either way, we have plenty of liquidity measures being thrown out there by the Federal Reserve as they continue to loosen monetary policy.

As long as that’s going to be the case, then it’s likely that stocks overall will do fairly well. And that of course includes the Dow Jones 30. All things being equal, I do think this market gets a little bit of momentum eventually and goes looking to the 45,000 level, but it may take some time to get there. In general, this is a market that I think also needs to be looked at through the prism of trying to find value. So because of that, I’m watching each dip with interest, and would be interested in buying bounces.

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