Long

DOW JONES: Huge bullish breakout. Can target 35,900 this quarter

Dow Jones crossed above the long term Channel Down and turned technically bullish on the 1D timeframe (RSI = 66.042, MACD = 233.400, ADX = 55.323). Given that the bottom pattern was an Inverse Head and Shoulders, which was something we pointed out previously (see prior idea at the bottom), the new buying wave can take the price a lot higher than our short term target on R1 (TP = 34,350), even above R2 to Fibonacci 2.0 and R3 (TP = 35,900). The 1D RSI indicates that the index is on the biggest strength since late November.

Prior idea:

DOW JONES: Inverse Head and Shoulders possible

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