Dow Jones 30 Price Forecast – Dow Jones 30 Continues to Look Strong

Dow Jones 30 Technical Analysis

The Dow Jones 30 was very quiet in the early hours of Tuesday as we just simply didn’t have the momentum to go higher. All things being equal, this is a market that I think is a little stretched and I recognize it as a scenario where we are more likely than not going to be looking at dips as potential buying opportunities. After all, we’ve seen a lot of massive upward pressure and that should continue to be the case.

That being said though, we are so overdone that it does make a lot of sense that we would see a little bit of profit taking and perhaps a little bit of hesitation. The shooting star from the Monday session is a very ominous sign, at least for the short term. But on the other hand, if we were to break above that candlestick, then it could send this market much higher.

Ultimately, I think we are in a realm of what is next and a lot of what we are going to see, I think will be heavily influenced by the Friday core PCE number, because that will have a major influence on what people think the Federal Reserve is thinking. After all, this is the market that a lot of people think that loose monetary policy will benefit as it is chock full of blue chip stocks that will do things like infrastructure and structure type of building, etc. So, I am bullish, but I think we are a little overdone.

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