Dow Jones index: short-term shock recovery

The Dow Jones index closed up 322.03 points, or 1.05%, at 31097.46 on July 1 (Friday); After a large number of data were released in the United States this week, especially after consumer spending showed a slowdown, economists at JPMorgan Chase lowered their forecasts for GDP growth in the middle of the year. The expected growth rate in this quarter also fell from 2% to 1%.

According to the 4-hour chart: the short power continued to fluctuate and descend in the middle and lower rail section of the Bollinger belt index channel. After the low narrow range consolidation, the long power waited for the opportunity to enter, pulled up strongly, broke through the middle rail and began to sort out. After the Bollinger belt index showed an open trend, it began to close. The MACD index was weak at the lower side of the 0 axis, and the RSI index was in the short area. After the narrow range consolidation, it broke through the 50 equilibrium line and entered the long area for consolidation;

Long and short turning point: 30952

Pressing position: 31302, 31568

Support position: 30703, 30482

Trading strategy: 30952 bullish above, targets 31302, 31568

Alternative strategy: down below 30952, target 30703, 30482