https://www.forex-news.com/
Forex-News has been the world leading economy news website since 2005. It has been a joyful path full of changing variables in this changing world. During the last three years we have also covered some of the most important news regarding Bitcoin and other cryptocurrencies. Wherever the news are, we are there.
Bitcoin
$11,586.58
-234.28
Ethereum
$378.87
-17
Litecoin
$56.94
-2.64
DigitalCash
$95.66
-6.19
Monero
$92.45
-1.36
Nxt
$0.01
0
Ethereum Classic
$6.84
-0.37
Dogecoin
$0.00
0

Dow Jones forecast: weaker in the reporting season?

2


Dow Jones forecast: US stock indices performSo far this week negative. If the positive impulses fail to materialize during the US reporting season, the weak momentum could continue for the time being. In terms of charts, the trend is already being tested.

Dow Jones
BEARISH

Provided data by



are the IG customers long.



are the IG customers short.

Changes in

Long positions

Short positions

Open interest

Every day16%-12%0%
Weekly12%-9%0%

Dow Jones forecast fundamental

The Initial applications for unemployment benefits fell further in the past week, but were still above the 1st million mark. Continued applications were over 18 million. Consider that continued applications only include those who are considered unemployed on a permanent basis and not those who have only registered as temporarily unemployed, the real number of unemployed is likely to be much higher. A clear divergence from the Non farm payrollswhich, in contrast to the unemployment statistics, is determined in a telephone survey. The question is, how long will it take for market participants to realize the seriousness of the situation?

Perhaps we will face a very nasty surprise next month when it comes to non farm payrolls. For now, however, the upcoming reporting season will draw attention to itself (Dow Jones, SP500, DAX Q2 results outlook). As always, the banks will start on Tuesday. Wells Fargo will be one of them. One of the largest US banks has announced plans to drop thousands of jobs during the year. On the one hand, this can be positive for the share in the short term because costs are reduced, but the situation is different for the jobs mentioned above. Incidentally, Wells Fargo is not the only large company that has announced layoffs on a large scale.

, Dow Jones forecast: weaker in the reporting season?, Forex-News, Forex-News

Recommended by David Iusow

Get to know the Elliott wave theory in technical analysis.

Dow Jones forecast from a chart perspective

Some surprises should not be ruled out, as corporate earnings forecasts have been very negative since the beginning of the second quarter. The lockdown easing, which at times contributed to the temporary recovery, could go hand in hand with exceeded forecasts. So WallStreet and Trump could once again have a temporary reason to cheer.

Use our free, 10-part US earnings webinar series in which our experts take a close look at current charts of US companies and analyze the winners and losers of the past financial year. To register >>>> https://bit.ly/3fmv7By

But there will not be much to cheer if the infection rates continue to rise cheerfully. Contrary to Trump’s statements, the deaths are also increasing in the individual states. On the basis of individual values, it can be seen that technology values ​​largely bear the current stability. This continues to make the whole thing fragile. The small market breadth that we saw in the context of the recovery after the crash and which was nevertheless able to assert itself, may no longer exist in the second test.

From a technical point of view, it currently looks a bit tricky for the Dow Jones Index. The recovery trend is still intact, but is now being tested again, see chart below. The bottom trendline coincides with strong support that extends to 25,300 points. If possible, this zone should not be undercut so that the trend remains intact. The 48-day moving average is also in this range and has not yet fallen below. The next target in the area of 38.2 Fibonacci levels, at 24,300 points.For intraday-based analytics, follow my Twitter channel @DavidIusow.

, Dow Jones forecast: weaker in the reporting season?, Forex-News, Forex-News

Source: TradingView

IMPLEMENTATION POSSIBILITIES WITH IG BARRIER OPTIONS

If you stand on the seller side and think that the Dow Jones falls in the future, barrierOptions from IG with a knock-out threshold, above the resistance zone at 23,000Pts. become interesting. Conversely, bullish traders could reverse knock-out thresholds below 22,000Pts. keep an eye on.

Do you want more e.g.u experience the new products? In our new one eBook you can familiarize yourself with them.

Options are complex financial instruments and involve the high risk of losing money quickly. Losses can occur extremely quickly.

Further articles that might interest you:





Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More