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

Dow Jones 30 Technical Analysis

The Dow Jones 30 initially pulled back just a bit during the early hours on Friday, but it looks like we are trying to turn around and go higher. And that’s not a huge surprise as we head into the weekend. Keep in mind that Monday is Labor Day. So, the New York Stock Exchange and American indices, of course, will be closed. But at this point in time, it looks like we are trying to continue the overall uptrend.

Even if we do pull back from here, I think there’s a really good chance that buyers will come back in and pick up the Dow Jones 30 with $40,800 being a support level. And then after that, the 50-day EMA, all things being equal, this is a market that I think will continue to look for higher levels, just simply based on the idea that the Federal Reserve might start cutting rates.

And if that’s going to be the case, the Dow Jones 30 could be a major beneficiary due to the fact that it is made up of a lot of major industrials and if we are going to see the Federal Reserve start cutting rates, possibly stimulus coming, that a lot of times will kick off big industrial products. With that being the case, I do think that short-term pullbacks continue to get bought into, and I have no interest whatsoever in shorting this market, it’s far too strong, and that’s been the case for some time.

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