Dow Jones Re-Tests 25k: Wall of Worry Proving Too Tall to Climb

Dow Jones Talking Points:

US stocks continue to sputter near support, and the most positive thing that can be said at the moment is that sellers haven’t yet been able to make much progress below the 25k level on the Dow Jones Industrial Average.

– Q3 was a very bullish period for the Dow, with the index rising by as much as 12.4% from the late-June low to the early-October high. But Q4 has brought a change-of-pace, and while equity markets appeared resistant to threats from rising rates or Italy/Europe throughout last quarter, warnings of higher costs ahead from tariffs appear to have caught attention, and this has added to the negative backdrop surrounding global risk markets at the moment. Will warnings of rising costs due to tariffs be the snowflake that creates the avalanche? Or are equity markets going to watch prices sit on support until some positive driver avails itself to resume the prior bullish trends?

– DailyFX Forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading

Article source: https://www.dailyfx.com/forex/technical/article/special_report/2018/10/24/dow-jones-price-tests-25k-chart-support-wall-of-worry-outlook-forecast-srepstans.html