The Dow Jones Industrial Average (DJIA) rallied roughly 250 points on Wednesday as equities pivot around the mid-week inflection point.
The Dow Jones rose over 300points on Wednesday as the index recovered. Equities are rebounding from Tuesday’s declines, with indexes sticking close to record highs. The recent ‘Fed frenzy’ has abated, with markets confident of a 25 bps cut in November. The Dow Jones Industrial Average rallied over 300 points on Wednesday as equities pivot around the mid-week inflection point.
Bullish price action is on pace to take a fresh topside run at the 43,200 level, but intraday bids will first need to firmly recapture the 43,000 handle. The Dow Jones has climbed over 16% bottom-to-top in 2024, with bullish momentum outrunning the 200-day Exponential Moving Average since November of last year. The DJIA has gained nearly 8% in the past two months alone after recovering from a mid-September swing low that pierced the 50-day EMA and tested the 40,000 major price handle.
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