DJI, Daily Chart Analysis 7/8

DJCFD:DJI   Dow Jones Industrial Average Index
Implications and Outlook
1. American markets were all about the data and also the improved (fake) than anticipated jobs topic of 213,000 as well as the rate increases to 4%. The net result has been a first headline sell-off, however, a retrieval in key stocks indices to close up with favorable numbers on the day.

Yet again, the top performer continues to be the NASDAQ index with plus 1.3% and also an additional out performance from the broader S&P500 having plus 0.9% outshining the plus 0.4% increase in the DJI. The bond market has shown the uncertainness with a 1 Basis Point parallel change in the curve. Nevertheless, we hear about curve flatteners currently being positioned.

We're once again watching a depletion in liquidity within the Eurozone bond market, which may very swiftly become volatile once we see a summer season headline which can very easily spook the markets. Numerous market makers are incredibly light with inventory that rumors assert much more prolonged holidays are being given. Having a lesser number of positions will rise volatility , as only normal orders will pursue prices.

2. Core DJ Industrials followed the mediocre jump which finally resulted in a rise for the Index climbing towards Mean Resistance of 24568.

3. The violation of the Mean Resistance 24568 will undoubtedly bring serious of the mid to intermediate-term bullish implications, having upside target to Key Resistance 24700 level, with low downside risk for the time being.

4. Current Index Strategy Bias: Bullish 60 / Bearish 40


broke 247 with ease today going thru 248 on Tues.
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