{"id":141314,"date":"2019-02-07T10:34:20","date_gmt":"2019-02-07T15:34:20","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=141314"},"modified":"2019-02-07T06:35:29","modified_gmt":"2019-02-07T11:35:29","slug":"dji-analysis-strong-data-bullish-for-dji-will-stocks-continue-the-rebound","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/02\/dji-analysis-strong-data-bullish-for-dji-will-stocks-continue-the-rebound\/","title":{"rendered":"DJI Analysis: Strong data bullish for DJI. Will stocks continue the rebound?"},"content":{"rendered":"
February 7, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Strong data bullish for DJI<\/strong><\/p>\n

Continuing expansion in private sector indicates US economy is strong. Will the DJI<\/a> continue the rebound?<\/p><\/blockquote>\n

Data after the Federal Reserve January 29-30 meeting were positive on balance indicating the US economy is strong. The Institute of Supply Management’s manufacturing index\u2019s final reading for January came in better than expected. The US economy created above-expected 304,000 new jobs in January as labor force participation rose. And while the services section expansion slowed in January, the expansion still continued at robust pace with employment and prices rising in the sector. The only weak spot were the drop in factory orders for November. Positive economic data are bullish for Dow Jones US stock index.
\nLatest Hong Kong economic data were positive: the Foreign Exchange Reserves in Hong Kong increased to $424.6 billion in December from 423.2 billion in November. In Hong Kong, Foreign Exchange Reserves are the foreign assets, besides gold and foreign currencies, controlled by the country\u2019s central bank. They hit all time high of $443.4 billion in February of 2018. At the same time contraction in private sector slowed as indicated by the up-tick in Nikkei\u2019s Purchasing Managers\u2019 Index to 48 from 47.1. Improving economic data are bullish for Hong Kong stock index.<\/p>\n

\"DJI<\/p>\n

On the daily timeframe the DJI: D1<\/b> is above the 200-day moving average MA(200), this is bullish.<\/p>\n