Dow Jones Attempts to Build From Base of Chart Support

Dow Jones Talking Points:

– US Stocks have put in further signs of recovery after last week’s spill. The Dow found support at an interesting level, as discussed in this week’s Technical Forecast for Global Equities, and that support around 25k has helped to produce a sharp topside move that’s erased a portion of last week’s losses.

– As of yet we’re not entirely out of the woods. Buyers remain tepid despite yesterday’s topside rally, and a hawkish Fed combined with a series of headline risks have helped to temper enthusiasm today as sellers have held resistance in the Dow around the 38.2% retracement of the Q3 bullish move.

– DailyFX Forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

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