Dow Jones Industrial Average Forecast August 24, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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The Dow Jones industrial average found itself falling through the 13,100 level on Thursday. This breakdown was relatively significant, but there is certainly much more support closer to the 13,000 handle. Because of this, we think this is more than likely just a pullback to find support between 12,000 and 13,000.

The Dow 30 will feature companies that in an ugly world are the least ugly out there. A lot of large money managers are deploying money into blue-chip dividend paying stocks in America. This is essentially what the Dow 30 is, so we believe that it should find quite a bit of support going forward. We would be very interested in buying Dow Jones futures or blue-chip stocks once we stabilize, preferably around the 13,000 level.

 

Dow Jones Industrial Average Forecast August 24, 2012, Technical Analysis

Dow Jones Industrial Average Forecast August 24, 2012, Technical Analysis

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