The DJ30 index is back on a bullish track after settling in the 37,000 support levels. The 40000 level is at hand.

To end my Finlogix analyses this Friday, I’m going to update the DJ30 index.

After holding 7 hours only, my April 8 trade plan has exited in a loss:

https://www.finlogix.com/analysis/20240408/dj30-intraday-analysis-and-trading-plan-for-april-8-2024

There is 1 American major economic report due tonight.

Re-assessing DJ30’s high timeframe candles:

Yearly Candle: Last check is a Green Body now a Green Spinning Top

Monthly Candle: Previous close is a Red Body with a Longer Tail Wick current is Green Body with a Short Tail Wick

Weekly Candle: Previous close is a Green Long Lower Shadow current is a Green Body

Daily Candle: Yesterday close is Green Body with a Longer Tail Wick current is Developing a Small Green Body with a Short Tail Wick

The DJ30 index is getting ready for more upside price actions after the 37,000 support levels were held strongly during an April correction.

I think the 40,000 level will be re-tested and a new all time high record soon as the bulls continue to rally in May.

A pretty solid week for the index after the US Dollar weakened recently.

Intraday candle is also successful in creating a bullish fair value gap after an expansion phase yesterday.

There’s a bearish daily FVG waiting to be challenged that was formed during April's opening correction.

If the bulls overcome this area completely and the current daily candle expands like it did yesterday, we can expect a higher price discovery leading to new records soon.

After shorting DJ30 4 times since February 2024 with a 2 wins and 2 losses respectively, I think it’s time for me to long the index. 

I’m capitalizing from further Greenback weakening that can drop more next week.

Higher price discovery awaits beyond the 40,000 level!

Let’s see how this trade plan goes and good luck.

All trade ideas I share are my own views and for my own trades only.

Copy trading and trading directly involve risks.

DJ30 Intraday Analysis and Trading Plan For May 10, 2024

May 10 2024

Stop Loss -1.68%

Holding time 18d2hr

39459.57

Entry price

38798.07

Stop loss price

1