On the Weekly TF we can see multiple confluences that tell us that dow should end bullish this week. Firstly, there are no price imbalances (apart from the uncorrected candle from early April - which personally I doubt will be corrected soon, unless something big/unexpected happens during or as a result of the presidential elections)
Price is still in a heavily bullish trend post coronavirus reactions from March 2020 and its clearly trending upwards, price is creating NSH ( new structure highs ) and HL ( higher lows ). On the 10th of August we saw price break through the NSH created on the week starting 8th of June and at the end we saw a bit of a slump, which was only to retest the NSH and I therefore I predict dow to continue its long trend and end bullish for the week. In addition to this, other US indices such as spooz and nas have passed the COVID drop and created ATH (all time highs) and dow hasn't made that move just yet. As both Spooz and Nas generally follow the same structure and follow Dow, ATH have not yet been created and therefore that is another confluence in a bullish week for dow.
From a fundamentals perspective, there's no medium to high impact news as such till Thursday and that to, it's jobless claims which have been dropping for the past couple times, so not much to worry about from that aspect.
Price is still in a heavily bullish trend post coronavirus reactions from March 2020 and its clearly trending upwards, price is creating NSH ( new structure highs ) and HL ( higher lows ). On the 10th of August we saw price break through the NSH created on the week starting 8th of June and at the end we saw a bit of a slump, which was only to retest the NSH and I therefore I predict dow to continue its long trend and end bullish for the week. In addition to this, other US indices such as spooz and nas have passed the COVID drop and created ATH (all time highs) and dow hasn't made that move just yet. As both Spooz and Nas generally follow the same structure and follow Dow, ATH have not yet been created and therefore that is another confluence in a bullish week for dow.
From a fundamentals perspective, there's no medium to high impact news as such till Thursday and that to, it's jobless claims which have been dropping for the past couple times, so not much to worry about from that aspect.