Dow Jones 30 Price Forecast – Dow Jones 30 Continues to See Buyers

Dow Jones 30 Technical Analysis

The Dow Jones 30 initially rose a bit during the Thursday session, but right now we are running into a little bit of trouble at the $41,000 level. With that being the case, the market is ready to break out, I believe. And I think really what we need is some type of fundamental reason to get moving. The PPI numbers coming out could be that reason, but even if they aren’t, I suspected it is probably only a matter of time before the Dow Jones 30 really takes off and tries to get back to the highs again.

Underneath, we have plenty of support in the form of the 50 day EMA, which is currently at the 40,400 level. The market also has quite a bit of support underneath there, at least from a psychological standpoint, as the 40,000 level, of course, will attract a lot of attention. With all of this being said, it’s worth noting that the market is in an uptrend and should continue to be.

I have no interest in trying to get short of this market or any other index at this point. It’s obvious that Wall Street is celebrating cheap money coming from the Fed soon, and there’s no reason to get in front of that. If the Fed starts to cut aggressively though, that will cause panic. Keep that in mind. This is a question of whether or not they can actually create a soft landing, which really is a bit of a myth, but it’s at least the game we’re playing right now.

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