Technical cheat sheet: Dow 30 down but not out
Discover the changes in the Dow 30’s trading outlook as the TCS delves deep into the transition from a bullish daily timeframe towards a more cautious stance, reflecting the nuanced positions of CoT speculators and IG clients.
We take a look at the Dow 30 in our latest Technical Cheat Sheet video, where it's no longer a bullish overview on the daily timeframe, even if the weekly has managed to hold on. There's also the matter of what traders have been up to, with Commitments of Traders (CoT) speculators moving out of heavy buy territory but still remaining majority long, while IG clients are also moving closer to the middle but with an opposite majority short position.
And while technicals are in focus, let's not forget the fundamental items on offer this week and on multiple fronts, with more earnings from Big Tech, the Federal Open Market Committee (FOMC) policy decision, and market-moving data.
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