A potentially big week ahead for the Dow Jones

There is not much of any note in terms of US economic releases due out today but it is an entirely different matter for the rest of the week. We have JOLTS (Job Openings) and manufacturing ISM tomorrow, followed by the ADP payroll report on Wednesday, ISM service sector index on Thursday and then to round off a busy week, we have the monthly jobs report on Friday. The Dow Jones was the best performing major US index on Friday, but only in relative terms, as it still closed heavily in the red. The Dow handed back 715 points by the close, ending the week at 41,583. The reader is reminded how the index narrowly avoided a 10% correction earlier in the month, when it based out at 40,661 on March 13. The correction Territory entry point was at 40,565. The index is very much in the spotlight again this week and as you can see, it is dropping back towards the lows set earlier in the month. The index has been priced to reopen today as low as 41,260. It is currently priced to reopen around 41,315