Expenditure Bill In Deadlock, DJ30 Teeters
J.Biden Expressed The Expenditure Bill Were Deadlocked, Detrimental To DJ30
Investors are recommended to consider marginal Short at market price, Target 35550, Stop-Loss by 35930.
As the latest US Retail Sales Index(Dec) recorded with reduction to 1.9%, worse than the forecast. In addition, J.Biden, the US President, whom stated the $1.9 trillion USD worth of the bill were in the deadlock, and announcing that it will update the infrastructure bill in response to bipartisan opinions, giving priority to the repair of 15,000 highways and bridges in the United States, and reaffirming its efforts on infrastructure, the scale of the expenditure bill is not as expected, which is bad for the DJ30, and under the double negative impact, DJ30 remains volatile in the short-term with great probability for continuing it’s downtrend.
In 60Mins range, (5,10,20)Tri-MAs tangles. Even MACD shown bull reversal, but would call strong. RSI operates around 50 with down-bent. In short, DJ30 may show rebound, and since the overall trend hasn’t escape from the Bear grip, therefore, would suggest Investors to consider High-Throw at relative high for Short position.
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