Thursday, September 27, 2018

DOWJONES - 28 September 2018


Fundamental Highlights

US equities were trading higher during Thursday's session with the S&P500 and Dow Jones moving bullishly after a multi-day losing streak with strong gains in the tech sector, Apple and Amazon were leading the charge. Apple shares boosted tech stocks yesterday with an impressive 2% gain after JPMorgan cited potential for further growth as it transforms from a hardware company to a services company. IYW, the iShares US Technology ETF was the best performer, gained more than 0.82% yesterday. The Fed raised interest rates in a widely expected move during Wednesday's meeting and implied that it would raise rates again at their December meeting.

Technical Analysis

After a three-day decline, the Dow gained 54.65 points during Thursday's session. During today's session the index may see a bearish move towards the 26338 figure where it may break that level and continue further in the direction of the 26263 area. During Friday's session the Dow seems to be a strong sell.

Support: 26338 26263
Resistance: 26542 26666

Chart (H1)