Tuesday, September 25, 2018

DOWJONES - 25 September 2018

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Fundamental Highlights

The Dow and S&P 500 were in negative territory after news that China rejected trade talks over the weekend while NASDAQ recovered from losses and managed to close almost flat (+0.08%) with notable strong gains seen in AMD and Apple. Rosenstein may meet with Trump this Thursday. Who is Rosenstein? Rod Rosensetein is the deputy attorney-general overseeing the Russia investigation and appointed special counsel Robert Mueller to investigate alleged ties between the Trump campaign and Russia during the 2016 election and related matters based on the dismissal of Comey. NY Times said that he had discussed with top officials about invoking article 25 in an attempt to remove the President if he can no longer perform the duties of the office. Last week, NY Times also reported that Rosenstein had suggested secretly recording the President and recruiting Cabinet members to invoke the amendment. This now may be the next thing traders look at to assess the market's next move.

Technical Analysis

After a continuous strong upward move with the Dow reaching new highs, it has slipped during Monday's session. During today's session the index may continue its downward move towards the 26226 area. With this downward move, the Dow seems to be a good sell during Tuesday's session.

Support: 26446 26263
Resistance: 26700 26783

Chart (H1)
DOWJONES

 
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