Dow Jones 30 Forecast August 7, 2015, Technical Analysis

The Dow Jones 30 fell rather hard during the session on Thursday as most US stock markets did. With this, we have made a fresh, new low, and it appears that the market may continue to go a bit lower than this. However, there is a pretty significant amount of support below near the 17,000 level, so we are waiting to see whether or not there is some type of reaction to that general vicinity. Also, we have the jobs numbers coming out today and that of course can cause the markets to reverse at the drop of a hat. With this, we are cautiously looking for supportive candles after knee-jerk reactions but also recognize that it’s probably best to simply wait until the close of the session to reevaluate the situation.