MACD Indicating Bullish Trend for Dow Jones despite Fed Fear
The MACD is displaying a Bullish trend for the Dow Jones on the weekly timeframe, indicating more potential gains on mid-term timeframe. (Short-term outlook is bearish on daily timeframe). I am still bearish on long-term timeframe, due to completion of up-trend Elliott Wave cycle and now in the early stages of a down-turn in the market on multi-year scale. But, this MACD data is in line with my overall thesis that we are in an ABC correction in the mid-term with the possibility of continued gains in the coming months / next year. (But, with the B-wave dipping in between the A & C waves).
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