Back to Blog

Dow Jones: The upside prevails

Indices in the US continue their grind higher with the Dow Jones pushing higher this morning, poised to a have a go at marking new highs at 13800. The bulls are clearly having the upper hand in 2013 as there is a degree of risk appetite out there despite the uncertainty on a fundamental level. With this being said, we would like to see some type of pullback in order to get involved. A pullback to 13610 would be ideal for getting on the long side of the market. As long as the market remains well supported above 13555, downside movement can been seen as good buying opportunity. In the alternative scenario, a break below that level could open the door for the next support level at 13483. Onto the main topics of today, a quiet day on the European economic data front keeps the focus on US event risks with the Jobless Claims and the Petroleum Status Report highlighting the calendar.

Dafni Serdari
Market Analyst
The comment in this blog is the personal opinion of the contributors and not The content does not constitute financial, investment or tax advice. You are advised to discuss your specific requirements with an independent financial adviser prior to entering into any bet. is not responsible and disclaims any and all liability for the content of comments written by contributors to the blog, and the content of any third party sites linked from this blog.

Share this post

Back to Blog

Spread betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading these products with this provider.
You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.