Dow reclaims 28,000 USD threshold


Equities are up sharply on Thursday amid more stimulus news, and investors dont need anything else. Ahead of the US session, the Dow index was up more than 1%, trading above the important 28,000 USD level.

The short-term trend now seems bullish as enthusiasm from more stimulus boosted asset prices yet again. The economic situation is worsening worldwide due to more lockdowns, but that does not interest the markets anymore. 

If the index pushes higher above the 28k resistance, further gains toward 28,200 USD are likely, with the next target for bulls at 28,380 USD, where the Dow stopped on September 16. Breaking above this level would most likely send the index to new all-time highs above 29k.

As long as the Dow trades above the key support in the area of 28,100 - 28,300 USD, all time frames are looking bullish. Since the Fed will continue to print billions of USD and a new fiscal stimulus is on the way (at least 2 trillion USD), there seems to be no reason for stocks to go down.
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