Nasdaq 100, Dow Jones 30 and S&P 500 Forecasts – US Indices Look to Pull Back?
The Dow Jones 30 continues to consolidate just above the 49,000 level. That’s an area that is a large, round, psychologically significant figure and an area that’s been important multiple times. If you look at the chart, you can see that we are forming a bit of a bullish flag, but really, at this point, I think one of the things that we need to see is the bond market calms down, and rates come down.
If we see this market break down below 49,000 then we may make a run towards the 50-day EMA.