Dow Jones US30 Chart Technical Outlook may extend its rally in the new week, with 42,284 in play
Optimism extends to another week – the US economy is doing fine and the Fed is cutting rates. This perfect recipe for equities may push Dow Jones (US 30) to new highs.
Christopher Waller, a governor at the Fed, seemed very supportive of rate cuts – a shift from his usually hawkish stance. That also supports stocks. Assuming no horrible news from S&P Global’s Flash PMIs, there is room for further gains.
Dow Jones (US 30) faces resistance at 40,168, the recent peak, and then 42,284 and 42,356. Support is at 41,859 and then 41,467.
