Dow Jones 30 Forecast October 2, 2014, Technical Analysis

The Dow Jones 30 fell hard during the session on Wednesday, showing a significant amount of weakness. The market sliced through the 16,900 level, an area that we thought would be rather supportive. However with nonfarm payroll coming out on Friday we suspect that today will be fairly quiet. With that, we can stay on the sidelines as we are with all American indices for the session, and simply wait to see what kind of setup we get on the daily chart. At this point time, we still believe that the buyers will step been sooner or later.