Is Dow Peaking Out?Fundamental
President Donald Trump behind former Vice President Joe Biden according to a range of national polling average in the final weeks before the Presidential election on 3rd November.
Trump mentioned on Thursday that he is willing to increase the size of the COVID-19 stimulus package, but the market is of the view that a deal is unlikely to be reached before the election.
This week we saw that the US equities were mixed after two weeks of gains. Dow pullback after nearing September high, failing to break through 29,000 this round. However, it quickly recovered after reaching support around 28150.
Overall, Dow remains on an uptrend after recovering from the pullback in September. An imminent break below 27,500 is required for the market to be on a neutral side.
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