While the Dow Jones is leader for big money and international capital, it is often the leader of the US market to give hints whats to come. This is due to larger money (countries, institutions) need somewhere to place billions without a stock falling under — it’s also blue chip stocks which china investors want due to brand name.
With that said…
Weekly View:
Today is important close as we watch 398.80 weekly bullish reversal on today’s Friday May 17th close. This is a bullish reversal which we are testing. Close above and we can head higher into next week’s panic (which may be straight direction move, or up then down)
Monthly View:
May may be turn point, which we did turn up. But watching the next 3 months as opposite trends into Aug. Notice 419.57 monthly bullish reversal. We will need to close above that end of May to increase probability higher into Aug. If not, there may be a chance of pull back for 3 months
Yearly View:
2032 we are expected to hit 65,000 in the dow, but not in a straight line. Long term bullish and watching Price to Book ratio stocks using FinViz.com for good stocks into stagflation.
Below is the chart of DIA (Dow Jones ETF)…
