Dow Jones 30 Weekly Price Forecast – Dow Jones 30 Continues to See Supportive Action

Dow Jones 30 Technical Analysis

The Dow Jones 30 fell significantly during the course of the trading week but turned around to show signs of life. After all, we are sitting in the extreme highs, and I think we have a market that has to be watched very closely due to the idea that perhaps we are getting stretched, but I do think that it is probably only a matter of time before the market does continue to go higher, and even if we were to pull back somewhat significantly, I think that somewhere in the area we have the 40,000 level as a hard floor in the market at the moment.

Over the longer term, I think that the Dow Jones will continue to be a place where people run to in order to take advantage of the liquidity coming into the market as the Federal Reserve continues to cut rates. The Dow Jones 30 of course will get a stimulus effect of that and therefore I think this remains one of the better indices to be involved in. I have no interest whatsoever in trying to short this market anytime soon, nor do I have any interest in shorting any other index in the US, as the Federal Reserve is riding to the recuse when it comes to interest rates being cut, adding liquidity to the overall market.

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