Regarding the introduction of the new US Federal Reserve chairman by the Biden administration in the next few days, financial and stock market traders are worried about the new chairman’s plans for the Federal Reserve’s supportive and expansionary policies. However, according to the positive reports of big companies, the level of demand is still rising, and technically the S&P500 index has reached the highest historical top of 4710. Therefore, the reaction to this range will be decisive.
The Dow Jones index is volatile in short-term correction trend, reacting to the 34-day moving average, with the first probability of ending the correction and returning to the uptrend in the mid-term. However, in the short term, there is a tendency for further correction move.