The Dow Jones reaches 47,000 and breaks its Rising Wedge

[Redator]

US indices are onto another intense session, with the Dow Jones crossing the 47,000 mark and breaking through its long-watched ascending wedge pattern.

Some profit-taking has now concluded and overall, the picture in US Equities is green in today's session.

US Equity heatmap – October 3, 2025 – Source: TradingView

The session did not open as bullish as it currently is: the ISM Services PMI came in weaker at 50.0 vs. 51.6 expected, sparking an initial selloff. But instead of snowballing, the move triggered a full risk-on reversal, with Bonds and Gold not doing as well and every other risk asset loving it.

With October’s rate cut now more than guaranteed (90% priced in pre-release), the Services miss gave markets further conviction (now 98%).

And even with today’s NFP off the table due to the government shutdown, traders are looking further ahead — pricing in deeper cuts for 2026 as labor market concerns remain front and center, as seen in the latest rounds of FED speak.

US Stocks have largely disregarded any negative outlook from the US Government shutdown, so any change to this will have to be monitored.

Anyways, let's tackle the multi-timeframe analysis for the Dow.

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Dow Jones multi-timeframe analysis

US 30 Daily chart – breaking the Ascending Wedge

Dow Jones Daily Chart, October 3, 2025 – Source: TradingView

The Dow keeps loving the rate cut pricing, at least even more than its younger brother the Nasdaq which had rallied sensationally since the beginning of the year.

At one point up 1.10% to 47,051 on its CFD, the actual Index actually just breached 47,001 before retracting as profit-taking comes in.

The session is still far from over.

The Dow Jones is subject to mixed/green performances in October, but the start to this month is already surpassing those.

Seasonal trends for US Indices

Stock Market monthly seasonal performance – Source: Market-Bulls.com

US 30 4H chart

Dow Jones 4H Chart, October 3, 2025 – Source: TradingView

The close of this 4H candle will be essential for the future outlook of the index.

Prices are demarking from their higher timeframe moving averages, showing how strong the current move is but watch momentum becoming slightly overbought.

The uptrend is still very tight.

Levels of interest for Dow Jones Trading:

Resistance Levels

• Current All-time high 47,051
• ATH Resistance Zone 47,000 to 47,160 (+/- 150 pts)
• High of weekly channel at 48,000

Support Levels

• Preceding resistance now pivot 46,400 to 46,830
• 46,000 level momentum Pivot now support
• 45,000 psychological level
• 44,400 to 44,500 Main Support

US 30 1H Chart

Dow Jones 1H Chart, October 3, 2025 – Source: TradingView

Buyers are rejecting any attempt of profit-taking as players are leading another rebound around the 47,000 mark.

Closing the week above this milestone should maintain high expectations for upcoming trading, in the waiting of the release of the delayed Labor data.


Safe Trades!

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