Dow Jones Skyrockets! Is the Bull Run Here to Stay?
Dow Jones Skyrockets! Is the Bull Run Here to Stay?
Dow Jones Skyrockets! Is the Bull Run Here to Stay?
Dow Jones Skyrockets! Is the Bull Run Here to Stay?
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant Trend Analysis
- The market is currently in a downtrend, making lower highs and lower lows.
- Recent strong sell-off after failing to sustain above 44,000.
- Price has broken below key support near 42,500, signaling further downside.
- RSI at 39.07, approaching oversold territory but not extreme.
Moving Averages Insights
- 50-SMA (red), 150-SMA (orange), and 200-SMA (green) are sloping downward, confirming bearish momentum.
- Price is trading below all major moving averages, signaling a strong downtrend.
- Potential resistance at 42,500 and 43,000 if a pullback occurs.
Upcoming Events Impacting US30
- FOMC meeting & interest rate decision (major impact)
- US inflation data (CPI & PPI reports)
- US jobs data (NFP & unemployment rate)
- Geopolitical tensions & market sentiment
Final Takeaway
- Short-term traders: Watch for a pullback to short at resistance.
- Long-term traders: Caution is needed; further downside risk remains.
- Risk: A sharp recovery could trigger a short squeeze, especially if RSI reaches oversold conditions.
Breakout Strategy (Bullish)
- Entry: On a break above 42,800 (previous resistance).
- Stoploss: Below 42,300.
- Target 1: 43,200 (+1%) | Target 2: 43,750 (+1.5%) | Target 3: 44,300 (+2%).
Breakdown Strategy (Bearish)
- Entry: Below 41,800 (recent low breakdown).
- Stoploss: Above 42,400 (previous resistance).
- Target 1: 41,300 (-1%) | Target 2: 40,700 (-1.5%) | Target 3: 40,000 (-2%).
Disclaimer
This analysis is for educational and informational purposes only. It does not constitute financial advice. Always consult a professional before making investment decisions.
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