Dow Jones Plummet

Dow Jones Plummet

 The Dow Jones closed lower by 1063 points or 3.12% posting its worst single-day drop since 2020.

From the technical perspective, the momentum indicator suggests a downtrend since the MACD is negative and the histogram values are decreasing, resulting in downside momentum which is increasing.

Simple moving averages of 20,50,100 and 200, are above the price signaling that the momentum is to the downside.

First support level is at 32808.99 followed by 32200.33 and 31215.13. Upside pressure could push the index towards the first resistance point 34779.4 followed by 35388.06 and 36373.27.

Disclaimer:

Important Disclosures and Disclaimers. This report is intended for informative purposes only.  Under no circumstances is it to be used or considered as an offer to sell, or a solicitation of any offer to buy, any security.  It is recommended that investors independently evaluate the strategies and consult a financial adviser before proceeding to the purchase or sale of any security or other financial instrument.  Also note that past performance may not be a reliable indicator of future returns.  Investors may not get back the original amount invested.  This report has been compiled based on information that I believe is reliable, but the accuracy, completeness, or correctness cannot be guaranteed.  The opinions contained within the report are based upon publicly available information at the time of publication and are subject to change without notice.

The use of forward looking wording such as “expect”, “estimate”, “forecast”, involve known and unknown risks and uncertainties which may mean that the actual results may differ from any future results implied by the forward looking wording included in the relevant statement

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