The price of stock futures is rising as we approach the final trading week of 2022
U.S. stock futures rose on Tuesday morning as investors head into the final trading days of 2022, deliberating whether a Santa Claus rally will appear and lift a market that has been weighed down by recession fears.
Dow Jones Industrial Average futures rose by 154 points
During the regular session Friday, the Dow Jones Industrial Average closed 176 points higher, or 0.5%. The S&P 500 rose 0.6%, and the Nasdaq Composite added 0.2%.
Friday marked the start of the time period for a Santa Claus rally, which is typically considered the final five-day trading stretch in the current year, as well as the first two trading days in the new year. Markets were closed Monday for the Christmas holiday.
Due to low trading volumes, investors are expecting either relative quiet or further volatility during the holiday-shortened week. Markets are closing out a month and year defined by a surge in recession fears.
On the economic front, traders are expecting the latest data on November wholesale inventories and the October S&P/Case-Shiller home prices Tuesday before the bell.
DOW JONES TECHNICAL ANALYSIS
DAILY CHART:
Dow Jones is currently trading in up channel.
Dow Jones is currently trading above 5&50 SMA
RSI is in buying zone which suggests bullishness and Stochastic is suggesting up trend.
Dow Jones immediate resistance is at 33610 & its immediate support level is 33449
HOW TO TRADE DOW JONES INDEX IN THIS WEEK
Dow Jones is trading in up channel; it will continue to trade upside, so remain bullish on it.
