Sunday, October 7, 2018

DOWJONES - 08 October 2018


Fundamental Highlights

On Friday U.S. equities were firmly lower as worries about rising interest rates overshadowed the September jobs report, which pointed to strength in the labor market and the broader economy. The equities' market saw another round of sell-off on Friday with tech names taking center stage. This sell-off in stocks has drawn all eyes to the implied volatility again as the ratio has been rising steadily since Aug. With the U.S. banks closed during today's session and with no reports scheduled for release, the next move for the Dow will be impacted by traders' sentiment on the back of NFP data released last week.

Technical Analysis

The Dow lost another 180 points during Friday's trading session. Today, the index may move downward in the direction of the 26397 level. The Dow seems to be a good sell during Monday's session.

Support: 26397 26344
Resistance: 26539 26661

Chart (H1)