Dow Jones US30 Chart Technical Outlook wavers at record highs ahead of the Fed decision
The Dow Jones is hesitating near record highs. Investors anticipate a steep easing cycle while macroeconomic data suggests solid growth, the ideal context for equities.
US Retail Sales confirmed on Tuesday that consumption remains solid, pointing to strong Q3 growth and steady inflation pressures. Futures markets, however, are still pricing a 65% chance of a 50 bps cut later today.
Wall Street needs a dovish Fed to extend its rally. A 25 bps rate cut, the hawkish option, is not discarded. This outcome is likely to trigger a correction in the main US indexes.
Resistances are 41,800 and 42,200. Supports lie at 41,380 and 41,115.
