With US employment data out Friday the DOW may be in for a ride

DOW Jones Index Analysis Update

 

DOW – DOW Jones 30 Index

Taking a look at the DOW, price action is playing out as expected and with US employment data out Friday night, things could really heat up. If we see the numbers come out stronger than expected, US bond yields may spike and cause a selloff in shares. The DOW is still struggling to continue higher and tomorrow could be make or break time. For higher prices we need to see buyers push price up through 25000 to give us confidence.

 

Index Analysis : DOW – DOW Jones 30 Index

Current Price : 24838

Status : On watch for further weakness

 

4 Hourly Chart

 

Previous Alert 2/3/18

DOW – DOW Jones 30 Index

Thought that it is a good time to take a look at some long term price structure of the DOW to give us some perspective. Shown is a chart of the 4 hourly action that is currently extended into support around 24550 and hinting at a bounce. If we do see a bounce, it may be short lived as sellers take hold and drive price back lower. The key level will then be 23100 to see if lows can hold. If not then we may see an extended move lower to around 22240 from the daily chart.

 

Index Analysis : DOW – DOW Jones 30 Index

Current Price : 24560

Status : On watch for mid term bounce

 

4 Hourly Chart

Daily Chart