E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – No Threat of Strong Uptrend at This Time

September’s E-mini Dow Jones Industrial Average futures are trading higher late Friday after hitting a record high earlier in the session. Investors surged in equities in the economy-related sector following a better-than-expected increase in jobs in July, while investors continued to downplay the impact of the Delta variant given the rise in interest rates. vaccination.

As of 8:08 p.m. GMT, futures on the September E-mini Dow Jones Industrial Average are trading at 35091, up 147 or + 0.42%.

Daily September E-mini Dow Jones Industrial Average

Technical analysis of the daily swing chart

The main trend is upward on the daily swing chart. The uptrend was reaffirmed early in the session when buyers pulled the previous high at 35082. A trade up to 33623 will change the main trend down.

The minor trend is also up. A trade up to 34602 will change the minor downtrend. This will also shift the momentum downward.

The minor range is 34602 to 35137. The E-mini Dow is currently trading on the strong side of its 50% level at 34870.

The new near-term range is 33623-35137. If the minor trend changes lower then look for the sell to eventually extend into its retracement area at 34380-34201.

Technical forecasts of the daily swing chart

There is no resistance so prices may continue to rise. We are not looking for a price to stop this rally anyway, but rather a graphical pattern like a closing price reversal top.

We are also not looking for a major trend change, but could tolerate a short term momentum change.

While some may view the market as overbought or overvalued, keep in mind that the trend is your friend and trying to pick a top by feeding only the bull.

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