Dow Jones 30 Weekly Price Forecast – Dow Jones 30 Continues to See Upward Momentum

Dow Jones 30 Technical Analysis

The Dow Jones 30 rallied rather significantly during the course of the week as the Federal Reserve cut interest rates by 50 basis points. All things being equal, this is a market that continues to see a lot of upward momentum and we are starting to stretch a little bit outside of the channel that we had been in. All things being equal, this is a market that continues to see a lot of buyers on dibs as we take advantage of value and momentum.

In general, the markets are likely to continue to see a lot of value hunting due to the fact that it’s clear that Wall Street is going to continue to push stocks higher. At this point in time, I would anticipate that the Dow Jones 30 could go as high as $42,500 in the next few trading sessions as we are entering what looks like the next impulsive phase.

Underneath, I would anticipate that the $40,000 level would start acting like a hard floor in the market. But really, I’d be surprised if we dropped that far. The interest rate cut by the Federal Reserve, of course, is going to help stocks for the time being. Wall Street always protects its own. Keep in mind, most of the people at the Fed are Wall Street adjacent. So as long as that’s going to be the case, this is a market that I think continues to look upwards. But when it all comes things get ugly fast.

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