Dow Jones 30 Forecast August 13, 2015, Technical Analysis

The Dow Jones 30 as you can see fell quite a bit during the course of the session on Wednesday, but found enough support near the 17,150 level to turn things back around and form a hammer. The hammer of course is a very bullish sign, and it appears that the US indices in general are starting to show signs of strength again. With this, we are buyers of the Dow Jones and recognize that we should go much higher. We believe that selling cannot be done, and that we will reach back towards the 17,600 level.