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Promising vaccine boosted risk-on sentiment – DOW JONES Market Outlook – 02/07/2020


In a very volatile session on Wall Street yesterday with tech ripping higher but small caps selling, the Dow index closed in the red, hitting our support target at 25560 in a mixed trading session. On one hand, new record cases in California have halted re-opening and pushed the index lower, while stronger than expected US Manufacturing PMIs and a promising vaccine from Pfizer and BioNTech boosted risk on sentiment. An hourly close above our resistance at 25797 will favor a run towards 25970 ahead of the jobs print later today.

Support: 25560 / 25227
Resistance: 25797 / 25970

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/promising-vaccine-boosted-risk-on-sentiment-dow-jones-market-outlook-02-07-2020
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