James Hyerczyk
Add to Bookmarks
E-mini Dow Jones Industrial Average

June E-mini Dow Jones Industrial Average futures surged to a record level on Thursday after several major companies reported strong earnings and robust economic data pointed to a rebound in consumer spending and an improving jobs market.

At 20:19 GMT, June E-mini Dow Jones Industrial Average futures are trading 33919, up 295 or +0.88%. This marked the first-time the blue-chip benchmark has crossed the 34,000 milestone.

Know where the Market is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

In economic news, retail sales surged 9.8% in March as additional stimulus sent consumer spending soaring, the Commerce Department reported Thursday. That number topped the Dow Jones estimate of a 6.1% gain.

Another report released on Thursday showed that first-time filings for unemployment insurance dropped to the lowest level since March 2020. The Labor Department reported 576,000 new jobless claims for the week ended April 10. Economists polled by Dow Jones expected a total of 710,000.

Daily June E-mini Dow Jones Industrial Average

Daily Swing Chart Technical Analysis

The main trend is up according to the daily swing chart. The uptrend was confirmed when buyers took out Wednesday’s high at 33800.

The main trend will change to down on a trade through the nearest main bottom at 31951. This is highly unlikely, but since the Dow is up 14 sessions from this main bottom, it is vulnerable to a potentially bearish closing price reversal top.

A closing price reversal top won’t change the main trend to down, but if formed then confirmed, it could trigger the start of a 2 to 3 day correction. Sometimes, it even retraces at least 50% of the current rally. The current range is 31951 to 33962. This makes 32957 a key 50% level to watch. This level will continue to rise as the market moves higher.

The minor range is 33157 to 33962. Its 50% level at 33560 is a potential downside target.

Short-Term Outlook

There is no resistance so we’re going to continue to watch for a closing price reversal top to tell us the selling is greater than the buying at current price levels.

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