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

Dow Jones 30 Technical Analysis

The Dow Jones 30 rallied a little bit during the early hours on Tuesday as we continue to see this market try to break out to the upside. All things being equal, this is a market that I do think continues to go higher solely on the idea that the Federal Reserve is cutting rates, and really not much more than that. The Dow Jones 30 of course is an index of blue chip stocks that will see a lot of inflows in that environment, and therefore I like the idea of buying dips. The $41,600 level is an area that previously had been resistance, and it now looks as if it could very well offer a bit of a short-term floor.

I believe that given enough time, the Dow Jones 30 probably continues to go higher, perhaps to the $45,000 level. This is a market that has stretched rather significantly over the last couple of weeks, so a pullback would make a certain amount of sense. But I don’t necessarily think that it will end up being a scenario where any turnaround is something that you should fear.

I’m basically looking at this through the prism of a pullback and a bounce might be a buying opportunity. 45,000 is my target at the moment, mainly just because there’s nothing else to aim for that I see. I think the 43,000 level, of course, is your initial target, so we’ll have to wait and see how that plays out.

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