Dow Jones 30 Weekly Price Forecast – Dow Jones 30 Continues to Look Healthy

Dow Jones 30 Technical Analysis

The Dow Jones 30 initially dipped a bit during the early hours on the day of the first week. Monday sending the weekly candlestick lower only to turn around and rally significantly for the rest of the week and go much higher. I think at this point in time it looks like we are going to do everything we can to reach the swing high and if we can break above there the market could continue to go much higher, perhaps reaching the 42 000 level.

I think short-term pullbacks will continue to be buying opportunities as the market has been grinding higher for quite some time. This is a market that really almost took down the entire negative candlestick from the previous week. So that’s a very bullish sign.

And I think with the monetary policy loosening coming out of the United States, it does make a certain amount of sense that the industrial index, the Dow Jones 30, ends up getting very bullish due to the fact that the market is likely to see stimulus coming down the road and that helps some of these bigger companies. There’s nothing on the chart that tells me I want to short this market, so I am a buyer of dips, I am taking advantage of value, and if we break out to the upside, I think we go looking to the $42,000 level and then even higher than that.

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