DJ30: High position down

Fundamental analysis:

The Dow Jones Index closed down 148.42 points, or 0.46%, at 31999.34 on November 3 (Thursday); The US trade deficit widened significantly in September, which may be due to the strong US dollar and weak global demand, which depressed exports. The narrowing of the trade deficit was the main driving force for the rebound of the U.S. GDP in the third quarter. The annual quarterly rate of the U.S. GDP in the third quarter was 2.6%, and it returned to a positive value two quarters later.

Dow Jones DJ30 - 4-hour K chart shows:

Technical analysis:

The 4-hour chart shows that the momentum of high short positions continues to move downward, and the short-term decline may continue. Market short positions are shrouded in sentiment. The MACD indicator hovers below the 0 axis, and the RSI indicator narrows below the 50 equilibrium line;

Empty turning point: 32,081

Pressing: 32317, 32590

Support: 31795, 31558

Trading strategy: 32081 lower bearish, target 31795, 31558

Alternative strategy: 32081 upside bullish, target 32317, 32590