Dow Jones: Channel Up turned into a Triangle.

Dow Jones is extending the rebound on the Higher Low made yesterday on the 1W Channel Up (RSI = 51.067, MACD = 249.310, Highs/Lows = 0.0000) after the Nonfarm Payrolls missed the forecast today. This fundamentally bullish for the stock index (Fed and rate cut outlook).

Technically the 1W Channel Up failed to make a Higher High last month so the medium term overlay can turn into a Triangle. Thus we revise our target on a Lower High at 27,200.





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