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Dow Jones sets daily and weekly close below 34k

It was noted here on Friday that a drop to below 34k in the Dow Jones at some stage looked inevitable and the price action seemed magnetic in that sense. Well, after the European close that is what it was, following an earlier rebound from 34,007, that had seen it rise to just above 34,150. The slide from there saw it then trade to around 33,980 before another sharp rebound lifted back to 34,150 again. That was followed by another dive into the close, where the index fell to as low as 33,947, before eventually closing at 33,963. That was its lowest daily close since the end of August and most definitely confirmed the more recent daily double top above 35k. I will be looking more closely at a detailed picture of the index in an update to follow later today. Meanwhile, the Dow futures have rebounded in Asian trading today. Asian stocks are mixed though, with China underperforming whilst Japan gains. The Dow Jones future is currently pricing a reopening at around 34,045, but subject to change of course 

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