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Thursday, April 6, 2017

Dow

Made 5 attempts at 20725 last 1 month but failed to hold above. Next minor support is at 20617 but the important support is at 20515. If this level is broken there are only 2 clearly defined support at 20122 and 19955. This 2 supports are very far down from here and it could cause some panic in the market. Fed has turned hawkish, some Fed members even said the US markets are a overvalued in the the minutes of the FOMC. Investor's increased scepticism about Trumps's ability to implement its stimulus policies, including the most important corporate tax cut is causing concern. This poses a risk for the highly valued US market.


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