{"id":149154,"date":"2019-06-07T10:30:02","date_gmt":"2019-06-07T14:30:02","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=149154"},"modified":"2019-06-07T06:32:23","modified_gmt":"2019-06-07T10:32:23","slug":"analysis-dji-analysis-positive-us-data-bullish-for-dow-jones-stock-market","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/06\/analysis-dji-analysis-positive-us-data-bullish-for-dow-jones-stock-market\/","title":{"rendered":"Analysis DJI Analysis: Positive US data bullish for Dow Jones Stock Market"},"content":{"rendered":"
June 7, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Positive US data bullish for DJI<\/strong><\/p>\n

Services sector in US accelerated more than expected as manufacturing sector continued expanding in May. Will the DJI <\/a> stock index continue advancing?<\/p><\/blockquote>\n

US data lately were positive on balance: expansion in services sector accelerated more than expected as manufacturing sector continued expanding (albeit at slower than forecast pace) in May. At the same time vehicles sales increased more than forecast in May. These reports were preceded by a Census Bureau report of a stagnant core factory orders (which exclude volatile aircraft orders) in April. And market sentiment was buoyed by Federal Reserve chair Powell\u2019s comment the central bank will \u2018 act as appropriate to sustain the expansion\u2019 . At the same time Federal Reserve released its beige book for April through mid-May, which described the U.S. economy as expanding at a \u201cmodest pace overall .\u201d Continuing economic growth is bullish for US equities market.<\/p>\n

\"DJI<\/p>\n

On the daily timeframe DJI: D1 <\/b> is rising after failing to close below Fibonacci 38.2 level. It has returned above the 200-day moving average MA(200). These are bullish developments.<\/p>\n