Dow Jones 30 Price Forecast – Dow Jones 30 Continues to Look Forward to FOMC Meeting Minutes

Dow Jones 30 Technical Analysis

The Dow Jones 30 has shown itself to be somewhat stagnant over the last 24 hours or so, and that makes a certain amount of sense considering that we had shot straight up in the air. Remember, late in the day on Wednesday, we get the FOMC meeting minutes. And that, of course, could have an influence on where we go next due to the fact that we don’t really know how the market will react to any somewhat possibly new knowledge.

Ultimately, though, when you look at the market, you can see that we are bullish, and I don’t know that the trend will change anytime soon but being so stretched, a pullback would make a certain amount of sense. If we do pull back, I would expect the 40,000 level to attract a certain amount of attention, especially now that the 50 day EMA is hanging around in that area.

Alternatively, if we can break above 41,500, I think this is a market that continues to go much higher. I do think it happens eventually, but the short-term momentum is so overdone that I find it difficult to get overly aggressive at this point. Most traders are going to be looking for some type of knee-jerk reaction to the downside in a bounce that they can take advantage of in order to find some value.

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