Dow Jones Industrial Average – Updates (11 March 2014)

The DJI closed about 11 points down as it starts to show some fatigue in it’s ascent to reach new highs. The previous resistance at 16,588.25 remains untested on the short term as we will see the DJI retracing further and factoring possibly the expectations for the unemployment claims later tonight. The market will also adjust to find some equilibrium to the FED meeting which will be held in about a week’s time.

I will expect a downward adjustment to the index with projection that the F&B and provisions (defensive stocks) will bolster the short-term retracement.

Dow Jones Industrial Average (11 March 2014)