FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
96,027,401Confirmed
2,049,769Deaths
68,692,236Recovered
Fetching Location Data…
Advertisement
Advertisement
James Hyerczyk
E-mini Dow Jones Industrial Average Up

March E-mini Dow Jones Industrial Average futures are advancing into the cash market close on Wednesday as investors appeared to be shrugging of the decision by Congress to begin impeachment hearings against President Donald Trump.

After a choppy trade early in the session, the blue chip index moved higher after the afternoon release of the Federal Reserve’s Beige Book. The report was not that impressive, revealing U.S. economic activity on the East Coast increased only modestly while employment dropped in a growing number of Fed districts due to a surge in coronavirus infections.

Advertisement
Know where the Market is headed? Take advantage now with 

75% of retail CFD investors lose money

At 20:42 GMT, March E-mini Dow Jones Industrial Average futures are trading 30985, up 11 or +0.04%.

In other news, Dow component Intel Corp was up more than 7%, after the chipmaker announced the replacement of its Chief Executive Officer Bob Swan with VMware Inc CEO Pat Gelsinger next month.

Daily March E-mini Dow Jones Industrial Average

Daily Swing Chart Technical Analysis

The main trend is up according to the daily swing chart. A trade through 31148 will signal a resumption of the uptrend. The main trend will change to down on a move through 29318.

The minor trend is also up. A trade through 30638 will change the minor trend to down. This will also shift momentum to the downside.

The first minor range is 31148 to 30638. Its 50% level is support.

The second minor range is 29760 to 31148. Its 50% level at 30454 is additional support.

Finally, a third potential 50% support level comes in at 30233.

Advertisement

Short-Term Outlook

Based on the late session price action, the direction of the March E-mini Dow Jones Industrial Average into the close will likely be determined by trader reaction to 30893. This would also set up the Dow to challenge its record high at 31148 in Thursday’s premarket trader or shortly after tomorrow’s cash market opening.

A failure to hold 38093 wouldn’t be a disaster. It would be an indication that investors are not willing to chase prices higher at current levels but would rather buy the dips. However, a failure to hold 30233 would raise concerns since this is a potential trigger point for an acceleration to the downside.

For a look at all of today’s economic events, check out our economic calendar.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US