Dow Jones: The Second Time Around 🎤
“Love is lovelier the second time around…”, so they say in the Oscar-nominated song “The Second Time Around”. First performed by Bing Crosby in the 1960 musical-movie “High Time”, the song became even more popular when Frank Sinatra added it to his repertoire one year later.
The song’s message might also ring true for Dow Jones as the index tries to climb above the resistance line at 35521 points for the second time. We expect it to make it above this mark soon and to thus affirm further upwards movement. The index should then rise farther, even above 36446 points.
However, as long as Dow Jones has not managed to conquer the resistance at 35521 points, we must not disregard our secondary scenario. There is a 40% chance that the index could fall below 33532 points and head for the bottom of the orange zone between 33518 and 32614 points.
The song’s message might also ring true for Dow Jones as the index tries to climb above the resistance line at 35521 points for the second time. We expect it to make it above this mark soon and to thus affirm further upwards movement. The index should then rise farther, even above 36446 points.
However, as long as Dow Jones has not managed to conquer the resistance at 35521 points, we must not disregard our secondary scenario. There is a 40% chance that the index could fall below 33532 points and head for the bottom of the orange zone between 33518 and 32614 points.
