Thursday, September 20, 2018

DOWJONES - 20 September 2018

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Fundamental Highlights

U.S. equities followed the direction set from the Chinese equities yesterday with the Dow being the out-performer with its new highs. Bank shares led the rally with strong gains seen in JP Morgan, Bank of America and Citgroup, notching gains above 2%. The Financial ETF, XLF climbed 1.7% while the worst performer was the utilities sector with XLU dropping 2.2% yesterday. The long awaited tariff implementation will be initiated on Monday the 24th of September, as traders turn their focus on what will happen thereafter.

Technical Analysis

The Dow rallied strongly during yesterday's session. Even though the index may have minor pullbacks at the beginning of today's session, it may see a strong bullish move towards the 26478 resistance where it may break it and continue further in the direction of the 26529 figure. During Thursday's session the Dow continues to seem as a strong buy.

Support: 26258 26106
Resistance: 26478 26529

Chart (H1)

DOWJONES

 
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