Dow Jones 30 Weekly Price Forecast – Dow Jones 30 Continues to See Volatility

Dow Jones 30 Technical Analysis

The Dow Jones 30 initially did rally this week, but then turned around to show signs of massive pressure after the jobs number came out much lower than anticipated. After all, we were expecting somewhere in the neighborhood of 165,000 jobs added last month and got a number of 114,000. So obviously that’s a huge miss. With that being the case, I think you’ve got a situation where traders will continue to look at this area as important.

That being the 40,000 region, as the market had previously seen a lot of resistance there based on the ascending triangle. In general, I think if we can close for the week above the 40,000 level, then we will probably enter a phase of consolidation. If we break down below the 39,500 level, that could be signs of a deeper correction. Nonetheless, it’s still a bullish market. It’s been a pretty rough week, but when you look at the last three weeks, it’s basically just a range that we are starting to carve out, and that might end up being the case before it’s all said and done.

However, it will be vary noisy and difficult in the near term, and this could be difficult for a lot of people to hang onto. I would keep the position sizing reasonable as you could get hurt with a massive position. The uncertainty will continue to be a lot of headaches just waiting to happen, but it is clear we are about to make a bigger move sooner or later.

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