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Dow Jones 30 Heading Towards New All Time Highs?

Jun 13, 2019 (13:19)

by John Knobel

Will weaker US economic data help lift US stocks higher?

Speculation the US Federal Reserve will shift from holding interest rates to moving towards a lower interest rate policy is a move the US Fed can play to offset the effects of a slowing US economy.
Today signs of a slowdown in the US jobs market indicated after the weekly US Initial Jobless Claims data missed forecast.
US stock investors and traders could be starting to price in improved future corporate earnings that follow lower cost of borrowing as a result of lower interest rates.

Technical Commentary: Dow Jones is recovering from the recent near -8% multi-month price correction. Current price is above its long, short- and medium-term moving averages; bullish triple moving average cross-over spotted; GANN FANN analysis is bullish provided 24,440 holds the October 2018 high / December 2018 lows; RSI at 63.4 indicates momentum analysis is bullish; price extensions seen near 28,280 and 20,053; otherwise if price can not overcome the previous all time high 27,030 a re-test of the 24,440 support can not be ruled out.

The original content of this Market Update is done in the English language. Any other language translation is provided for the sake of convenience. In case of any inconsistencies between the original English version and any other language, the original English version shall prevail.

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