A quarter-level correction is underway. A buying zone has effectively formed with a stop loss below the 1/4 level; should the price breach this, the 28970-29000 area offers a secondary opportunity for long entries.
Currently, I am targeting the 29420 level, followed by the next marginal zone at 29550.
Futures on the Dow Jones Industrial Average, S&P 500, and Nasdaq have risen amid expectations of a deal between the U.S. and Iran. Optimism is further supported by projections of corporate profit growth driven by artificial intelligence.
The index performed exactly as expected yesterday, moving from the zone to the next margin level, where it has since paused.
Currently, we are seeing a correction at the local extreme, specifically at the one-quarter margin zone. If the price tests this level, it presents another opportunity to look for long positions in line with the prevailing trend.
It is also worth noting that a massive spread of 31,000 was executed yesterday!
