The Dow Jones Industrial Average (DJIA) is going through a significant pullback on Monday.
Dow Jones corrects lower following strong US manufacturing activity data. Real Estate and Health sectors are leading losses, while Communication Services and Energy advance.
remains bullish, standing comfortably above previous highs and the 4-hour 50 Simple Moving Average at 39,250. Below here, the next downside targets lie at the 39,000 level and the trendline support at 38,775. Further down, the trendline resistance from late January lows at 38,850 would be next. On the upside, the resistance area between 39,850 and the 40,000 psychological levels seems a tough nut to crack for bulls.
as it affects the cost of credit, on which many corporations are heavily reliant. Therefore, inflation can be a major driver as well as other metrics which impact the Fed decisions. What is Dow Theory? Dow Theory is a method for identifying the primary trend of the stock market developed by Charles Dow. A key step is to compare the direction of the Dow Jones Industrial Average and the Dow Jones Transportation Average and only follow trends where both are moving in the same direction.
. One is to use ETFs which allow investors to trade the
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