E-mini Dow Jones Industrial Average (YM) Futures Analysis – September 14, 2017 Forecast

September E-mini Dow Jones Industrial Average futures are called lower. Traders are reacting to today’s stronger-than-expected U.S. consumer inflation data. The news doesn’t mean the Fed is going to raise rates, but it could lead to higher U.S. Treasury yields and a stronger U.S. Dollar.

Basically, we could see some asset allocation plays between the financials, the U.S. Dollar and stocks.

Technical Analysis

The main trend is up according to the daily swing chart. A trade through 22157 will signal a resumption of the uptrend.

The Dow is currently in the window of time for a closing price reversal top.

The new main range is 21644 to 22157. Its retracement zone is 21901 to 21840. If there is a sell-off then its retracement zone will be the primary downside target.

Forecast

Based on the current price at 22139 and the earlier price action, the direction of the Dow today will be determined by trader reaction to the uptrending angle at 22123.

A sustained move over 22123 will indicate the presence of buyer. This could create the upside momentum needed to overtake the high at 22157.

The Dow is vulnerable to the downside. A sustained move under 22123 will signal the presence of sellers. The next major downside target is the 50% level at 21901.

Minor targets include 22067 and 22037.