Will the Dow Jones catch up to other US Indices? – US 30 Technical Outlook

[Redator]

US Indices have made a consequent move up since the Liberation Day tariff fears peaked – The S&P recently broke up the 6,000 psychological milestone and the Nasdaq is less than 2% from its all-time highs.

We will dive into a multi-timeframe Dow Jones Technical analysis to see if a better global outlook and overall positive tone in markets help the US index to catch up to its tech-focused peers.

This morning’s Apple Conference WWDC24 disappointed markets and sent the stock down 1.25% during the session, undermining this morning’s rally in the NQ.

This and lower tariffs after the US-China discussions may contribute to bridging the gap between the US30 and other North American indices.

DJIA Technical Analysis from Daily to Hourly Charts

Dow Jones Daily Chart

Dow Jones Daily Chart, June 9 – Source: TradingView

The Dow has been rebounding with tenacity using the Daily MA 20 as support.

Friday's beat on the Non-Farm Payrolls report led to a strong bullish candle that led to today's test of the May 42,882 highs.

The Index is currently 4.83% to it's 45,060 all-time highs, as the industrial/manufacturing focused index had a tougher time to catch up to its all-time highs as the market still fears that tariffs, even lower than initially announced, may still hurt US manufacturers as their import costs will be higher looking forward.

Today's Daily candle is a bullish hammer, though of small volatility therefore we will need to see if the risk-on tone ,seen in Bitcoin for example, is going to be maintained through the week.

Momentum is building towards overbought but isn't there yet.

Dow Jones 4h Chart

Dow Jones 4H Chart, June 9 – Source: TradingView

The DJIA has been on a positive streak since retesting the downwards trendline formed in the beginning of 2025 as the economic outlook has been looking more positive globally.

The lows, touched on May 23rd, form a pivot at 41,156 (rounded to 41,150) - a key level to see if prices come to retest lower levels.

Prices tested the 4H MA 20 through this morning's session before bouncing swiftly before testing the May Highs.
Bulls would be looking for a continuation above as prices have precedently failed to break the level.

For further support on a retracement, look at the MA 20, MA 50 at 42,390 in confluence with an hourly upwards trendline. A further retracement will test the 42,000 psychological zone.

An upside breakout may hint at a Potential Resistance Zone 43,130 to 43,305 - formed with Fibonacci Extensions from May lows to May highs.

Dow Jones 1H Chart

Dow Jones 1H Chart, June 9 – Source: TradingView

This morning's action has seen a consolidation of Friday's NFP levels, confirming volumes at higher prices.

Prices are ranging between the Immediate Pivot (42,600 to 42,700) and the immediate Resistance seen at the May Highs (42,850 to 42,915).

As mentioned before, bulls will want to see a breakout above the immediate resistance with higher probabilities as long as prices hold above the 1h Pivot Zone.

Prices formed a small bearish divergence on the RSI though it isn't confirmed yet and bulls still have the upper hand from the broadly positive tone.

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