Here is where i think there be a good reversal trade! to get into a sell!
Fib retracement below 800MA
Good support and resistance!!
The Dow Jones Industrial Average (DJIA) tracks the performance of 30 of the biggest companies in the US and is often used as a barometer for the overall performance of the country’s equity markets. The Dow chart is a useful measure of US economic health. Follow the Dow Jones live with the real-time chart and view the latest Dow forecasts, news and analysis. Key and will help you trade the Dow Jones today and into the future.
News Source! (Market Watch)
U.S. stocks on Monday climbed sharply to start a holiday-shortened week in which upbeat economic data helped to overcome a reversal of reopening plans from a number of U.S. states amid the outbreak of COVID-19. The Dow Jones Industrial Average DJIA, +2.32% surged nearly 580 points, or 2.3%, at 25,596, powered predominantly by a gain in Boeing Co . BA, +14.39%, after U.S. air-safety regulators said they would begin key flight tests for the 737 MAX, representing a key milestone for the fleet that has been grounded for months. The S&P 500 index SPX , +1.46% rose 1.5% to 3,053, led by a 3.2% surge in industrials and a 2.1% rally in communication services. The technology laden Nasdaq Composite Index COMP, +1.19% lagged behind on the day, but finished up 1.2% at around 9,874. The gains for the stocks came as economic data continued to surprise to the upside, with a report on pending home sales in May spiking 44.3%, compared with April, according to the National Association of Realtors. That beat expectations of a 15% rise. Sales were still 5.1% lower compared against the same time last year. That data helped to overcome weekend data that showed that coronavirus cases world-wide topped 10 million and deaths surpassing 500,000.
With the news source this could be a sign of a strength!