E-mini Dow Jones Industrial Average (YM) Futures Analysis – Testing Short-Term Pivot at 26001

Blue chip stocks are trading slightly lower early Friday as investors prepare for the release of the U.S. Non-Farm Payrolls report at 1230 GMT. Investors are also a little jittery in anticipation of the possible announcement of additional tariffs on China by the Trump administration.

At 0714 GMT, September E-mini Dow Jones Industrial Average futures are trading 26009, down 16 or -0.06%.

Daily Swing Chart Technical Analysis

The main trend is up according to the daily swing chart. A trade through 26185 will signal a resumption of the uptrend. A trade through 25817 will change the main trend to down.

The short-term range is 26185 to 25817. Its 50% level or pivot at 26001 is controlling the direction of the Dow.

The intermediate range is 25607 to 26185. Its retracement zone at 25896 to 25828 is support. This zone stopped the selling at 25817 on September 4.

The main range is 24955 to 26185. If the trend changes to down then its retracement zone at 25570 to 25425 will become the primary downside target.

Daily Swing Chart Technical Forecast

Based on the current price at 26009 and the early price action, the direction of the September E-mini Dow Jones Industrial Average today is likely to be determined by trader reaction to the short-term pivot at 26001.

A sustained move over 26001 will indicate the presence of buyers. Overtaking 26100 will indicate the buying is getting stronger. This could create the upside momentum needed to challenge the last main top at 26185.

A sustained move under 26001 will signal the presence of sellers. This could lead to a retest of the retracement zone at 25896 to 25828, followed closely by the main bottom at 25817.

Taking out 25817 will not only change the main trend to down, but it could also trigger an acceleration into the next main bottom at 25607 and the main 50% level at 25570.