Current dynamics

The Dow Jones index is correcting in a local upward trend at 43339.0 amid the publication of financial statistics from leading retailers and technology companies.

Thus, the retail corporation Walmart Inc. reported revenue of $ 169.60 billion with a forecast of $ 167.67 billion, and earnings per share amounted to $ 0.58, while analysts expected $ 0.53. Lowe's Companies Inc., which specializes in the sale of home goods, recorded revenue at $ 20.20 billion after $ 20.47 billion shown in the same period a year earlier, while earnings per share decreased to $ 2.89 from $ 3.27 a year earlier, but turned out to be better than the expected $ 2.82. In turn, technology giant Nvidia Corp. is expected to report revenue of $33.09 billion today, up from $30.00 billion previously, and earnings per share are expected to be $0.740, up significantly from $0.402 last year.

The 10-year yield fell to 4.403% today from 4.437% last week, while the 20-year yield fell to 4.693% from 4.721%.

The growth leaders in the index are Nvidia Corp. ( 4.89%), Walmart Inc. ( 3.00%), and Amazon.com Inc. ( 1.44%).

Among the leaders of the decline are UnitedHealth Group (-2.15%), 3M Co. (-1.52%), Nike Inc. (-1.31%).

Support and resistance levels

On the daily chart, the index quotes continue their corrective dynamics, still trying to stay in close proximity to the resistance line of the ascending channel with boundaries of 44600.0–42200.0.

Technical indicators maintain a stable upward signal: the EMA oscillation range of the Alligator indicator is expanding, and the AO histogram is forming new correction bars, staying above the transition level.

Support levels: 42850.0, 41740.0.

Resistance levels: 43660.0, 44500.0.

Trading scenarios

If the asset continues to grow, buy positions will be relevant, which can be opened after overcoming the resistance level of 43660.0 with a target of 44500.0 and a stop loss of 43300.0. Implementation period: 7 days or more.

In case of a reversal and continuation of the decline, as well as consolidation of the price below the support level of 42850.0, sell positions with a target of 41740.0 will be relevant. Stop loss - 43100.0.