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

Dow Jones 30 Technical Analysis

The Dow Jones 30 rallied just a bit during the early hours on Thursday, as we have turned things around and have shown the 42,000 level as being important. At this point in time, if the market were to continue dropping, then I think the 41,600 area is a region that a lot of people will be looking at as a potential floor in the market, as it had a significant amount of resistance previously. In other words, I would anticipate that there should be a certain amount of market memory, if you will, a phenomenon that typically will help technicians trade the charts.

And therefore, I think a lot of people would look at that as a potential opportunity to get involved in the latest breakout. Below there, we then have the 50 day EMA near the 40,900 level. To the upside, the 42,500 level could be the target and then of course, after that, we would have the 43,000 level. We are in a massive uptrend, so there’s no reason to try to trade or bet against that, and I do think that sooner or later, we will have a lot of buyers jumping in to pick up a little bit of value in the market and to continue going long to the upside. I have no interest in shorting the Dow Jones 30, nor do I have any interest in shorting any stock market at the moment.

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