US found selling into the close overnight so where to next for the DOW

Index Analysis DOW

 

DOW – Dow Jones 30

The DOW pushed lower overnight as higher bond yields pressured stocks. Price action pushed up to the 25400 zone where sellers have been steadily hitting the bid. The move down is controlled which suggests that buyers are soaking up the selling pressure and again focused on global growth. We are now watching for a major higher low to build and buyers step in for a move up through 25500. The daily action is stretched to the upside so we expect that a bit of work needs to be done to give buyers more confidence.

 

Index : DOW – Dow Jones 30

Current Price : 24956

Status : On watch for a major higher low

 

 

Previous Alert 9/2/18

DOW – Dow Jones 30

The DOW received another beating overnight with the Index dropping over 1000 points for the second time in a week. Taking a look at the DOW futures market may be telling us that some relief is on the way. Price is currently overextended on the downside but is falling short of the lows around 23050. From here we expect some bargain hunting buyers to step in for a bounce of a few 100 points and then its all about the fear in the markets to where we head after that….but only time will tell.

 

Index : DOW – Dow Jones 30

Current Price : 23974

Status : On watch for a potential bounce