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DJIA: Weekly Breakout; 26K level is broken

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by , 02-28-2019 at 03:31 PM (77 Views)
          
   
The 2019 US equity rally has continued into this week, as the Dow Jones Industrial Average set a fresh three-month-high on Monday. Since then, prices have been pulling back but support has continued to hold with the index currently re-testing the 26k psychological level.

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At this point, short-term strategies will likely be focusing on bullish continuation themes, looking for 2019 strength to continue. On a longer-term or swing-basis, the potential for reversal is building as noted by a rising wedge formation building near November/December swing-highs.


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