S&P 500, Dow Jones Rise
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The nearest resistance level for Dow Jones is located in the 44,600 – 44,700 range. A successful test of this level will open the way to the test of the next resistance at 45,000 – 45,100. RSI is in the moderate territory, so there is plenty of room to gain momentum in the near term.
The Dow Jones Industrial Average (DJIA) remains trapped in consolidation around the 44,400 region on Tuesday. Earnings week is in full swing, and a few key misses on Tuesday gave investors cause for pause, twisting a kink into the tech rally and dragging down key blue chips.
The moves come after Wall Street saw a winning session, with the S&P 500 posting fresh intraday and closing records.
From the technical point of view, SP500 settled above the resistance at 6280 – 6290 and is heading towards the 6350 level. A move above this level will open the way to the test of the 6400 level. RSI remains in the moderate territory, so there is plenty of room to gain momentum in the near term.
At the time of writing, Dow Jones futures gain over 0.2% higher around 44,440, S&P 500 futures rise to near 6,316 after adding 16 points.
U.S. stocks signaled a calmness on Sunday night that belied a busy week ahead that includes a flood of corporate earnings, economic data and comments from central bankers. Futures
Stocks were taken on a wild ride Wednesday as a White House official indicated to CNBC that Trump was moving closer to firing Powell from his post as Fed Chair.
Stocks rose Wednesday after President Donald Trump announced the U.S. had reached a trade deal with Japan, lifting hope for further agreements being made.
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