Dow Jones 30 Forecast January 11, 2017, Technical Analysis

Dow Jones 30 daily chart, January 11, 2016
Dow Jones 30 daily chart, January 11, 2016

The Dow Jones 30 initially fell on Tuesday but turned around as markets regained their footing. It looks as if we’re going to test 20,000 again, but we are close enough that I would prefer to wait until we close above the 20,000 level to start buying. I would use the daily candle for that signal, and simply buy-and-hold at this point. I believe that the support will be found on the breakout somewhere near the 19,900 level. The NASDAQ 100 has already broken out to the upside, so I believe that it’s only matter time before this market does as well.

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