TRADE SETUP DJIA (US30 CFD)

Where do we stand fundamentally?

• Federal Reserve Policy: The Federal Reserve's decisions on interest rates continue to be a significant factor influencing the DJIA. Recent meetings have indicated potential rate hikes or cuts depending on economic data.

• Economic Data: Employment reports, GDP growth, and consumer spending data are critical indicators that affect the DJIA. Positive data can boost investor confidence, while negative data can lead to sell-offs.

• Global Events: Geopolitical events, such as tensions between major economies or conflicts, can cause volatility in the DJIA. Trade policies and international relations also play a crucial role.

DJIA is reversing strongly from a 45250 level and has reached strong long-term support of 42300. If this level fails, we could see a strong downside breakout and a test of 40500. Since we previously had a strong bounce from 42300, I expect a bounce as well short-term and a further long-term top consolidation.

We are in a possible third long-term wave finish here and a fifth short-term wave on the way although we could have one more swing upside to 45000 before a hard downside reversal. A breakout below 42300 will invalidate the short-term swing higher.

_{I am taking a near-term long-trade entry with an SL below 42500 to target 440000 and possibly higher. You can trade it with options as well by buying call options.}