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DOW higher supported by additional stimulus – DOW JONES Market Outlook – 01/07/2020


The Dow ends yesterday’s session at 25,788 closing below our resistance level at 25,797 supported by Mnuchin / Powell’s pledge for additional relief to prevent lasting damage to the economy, as investors continue to weigh surging Covid-19 cases vs. additional relief. Upside momentum on the index is pressured by the 200 period SMA and our 25,797 resistance level favoring a pullback towards 25,560 while better than expected economic data out of the US today (PMI / ADP Nonfarm Employment) could boost risk on.

Support: 25560 / 25227
Resistance: 25797 / 25970

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/dow-higher-supported-by-additional-stimulus-dow-jones-market-outlook-01-07-2020
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