Weekly chart:
Once again, the DOW was able to put forth a strong performance this week. The chances are currently more on the upper side.
Daily chart:
The corrective downtrend has been broken and the DOW was able to advance strongly, overcoming the 20 location point line from the week as it did so. For a new trend, however, another correction in this trend size would still be needed. Ideally, a return to the 20 LP from the week would provide new momentum to start a new movement. However, the stock exchange does not always play along nicely, which is why a direct continuation of the current movement should also be taken into account. In this case, one should specialize in the smaller trend sizes.
Hourly chart:
The trend in the hourly chart also managed to remain intact until the weekend. From the last high at 18074 points, the DOW came back right into its last correction zone. There, it was able to stabilize itself and even run into a new movement. This means that at the start of the new week, the greater odds are more on the upper side here, too.
All the best
Markus Gabel
Head of Sales/Trading
AgenaTrader/TradeEscort
AgenaTrader Trading Software
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