US30 Intra-Week Analysis Feb 20th, 2024

20 feb

2 weeks ago we saw us30 sitting just under 38800 All-Time-High, then with rate cut hopes and stock market greed impacting the market we got continued higher highs creating a new ATH at 38900. Last week inflation data was released higher than expected ending any near rate cut hopes and giving us a correction on us30, we saw price drop to 38000 level before making its way right back to 38800 key level and ATH demand zone. With that being said we could see some profit taking and a more controlled correction on us30 with price coming back down to test 38000 again. We also have to remain adaptive and understand buyers may try to continue to squeeze more profits which we've seen occur so expect continued buys if price begins trading above 38800.