[ad_1]
Dow Jones 30 Technical Analysis
Dow Jones 30 has gapped to the upside and is now threatening the crucial 40,100 area. This is an area that’s been important a couple of times in the past. So, it’ll be interesting to see how we behave here. But with this gap, one would assume that there could be a bit of a pullback. That pullback might end up being a buying opportunity as well.
Notice how the volume is so much heavier over the last week or so than it was on the way down. And that shows that there is real interest in trying to get back into stocks. So really all we need at this point in time is some type of good news.
S&P 500 Technical Analysis
The S&P 500 has also gapped higher during the trading session and looks a lot like Dow Jones 30. Ultimately, the S&P 500 will move right along with the other two indices. And the fact that we have PMI numbers coming out of the United States during the session might add more fuel to the fire in one direction or another. It looks at this point in time as if the 5,000 region is going to be the floor in the market. And it’s possible that the 5500 level becomes a bit of a ceiling as we had a small gap there and have previously seen a failed double bottom.
Again, I think a lot of this comes down to the tariff negotiations more than anything else, because we have had days when Trump suggested that the tariffs were going to be paused for 90 days, and the market shot straight up in the air as a reaction. In fact, we’re about to take that massive candlestick out to the upside if we can find a little bit of momentum, so that is a positive sign.
For a look at all of today’s economic events, check out our economic calendar.
[ad_2]
