Piece written by Alexa Smith, Trive Financial Market Analyst 

The Dow Jones 30 Futures (CME: YM) are showing little movement as investors await crucial jobs and manufacturing data scheduled for this week. On Thursday, US Initial Jobless Claims are projected to rise from 221K to 227K, while Non-Farm Payrolls are expected to decrease from 209K to 200K on Friday. The unemployment rate is anticipated to remain stable, prompting traders to exercise caution amidst concerns of a potential Fed rate hike in the coming month. 

Concurrently, the S&P Global Manufacturing PMI is forecasted to improve from 46.3 to 49, and the ISM Manufacturing PMI is expected to rise from 46 to 46.8. Additionally, the market is heavily influenced by earnings reports, as several mega-cap companies are set to release their financial results this week. In the face of such turbulence, can the Dow Jones index navigate its way to the top? 

Technische Analyse 

The Dow Jones 30 traded rangebound between the 33953 support at the Golden Ratio and the 34680 resistance at the 38.20% Fibonacci Level. A bullish breakout earmarked the 34680 resistance as a pivot point which took the index futures within reach of the 36675 all-time high after experiencing a 9-day rally. Since rallying, the index futures have flattened at the swing high in anticipation of earnings and job data. 

The 36675 all-time high may be a point of interest in furthering an upward trend if a break out from the 35858 resistance is sustained. However, weak jobs data could encourage a pullback towards 34680, which may earmark a pivot point for further downside momentum.  

Zusammenfassung 

The Dow Jones 30 Futures are navigating manufacturing and jobs data this week. Weak macroeconomic indicators could encourage a pullback towards the 34680 level, while positive releases may encourage the index futures to retest the all-time high of 36675. 

Sources: TradingView, Reuters, CNBC