Dow Jones 30 Weekly Price Forecast – Dow Jones 30 Rallies Hard For The Week

Dow Jones 30 Weekly Technical Analysis

The Dow Jones 30 has rallied rather significantly during the course of the trading week as we are breaking above the 40,500 level towards the end of the day on Friday. Eventually, I think we do go looking to the 41,000 level as traders continue to bet on the idea that the Federal Reserve is going to come and cut rates aggressively in order to save Wall Street. We have learned over the years that the Federal Reserve does, of course, acquiesce to whatever Wall Street wants eventually, and now we are starting to see the markets run with that idea. Short-term pullback should continue to see plenty of support near the 39,500 level, and then again at the uptrend line that sits just below there.

With that being said, this is a market that remains bullish but might be a little stretched in the short term. If we can break above the highs of the last couple of weeks, then I think that will allow this market to go much higher, perhaps reaching the 42,000 level given enough time. Remember, this is about liquidity, not what the economy is doing as we have seen since the great financial crisis. All things being equal, this is a market that I think remains very noisy, but I think ultimately it looks like it is still very well supported, and I think buyers will continue to pay close attention.

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