The Dow Jones Industrial Average is currently down 55 points (-0.16%).
When price approaches the 33540 level, we will see consolidation between buyers and sellers in the market. If buyers can hold that price, expect to see the DIJA push to 33950 until CPI data is released on Wednesday, May 10th 2023.
Earnings Reports and CPI data will inevitably direct the course of the market this week. However, a short bull run on Monday and Tuesday, leading to a steep bearish trend for the remaining of the week into next is the most likely outcome.
When price approaches the 33540 level, we will see consolidation between buyers and sellers in the market. If buyers can hold that price, expect to see the DIJA push to 33950 until CPI data is released on Wednesday, May 10th 2023.
Earnings Reports and CPI data will inevitably direct the course of the market this week. However, a short bull run on Monday and Tuesday, leading to a steep bearish trend for the remaining of the week into next is the most likely outcome.