The Dow Jones 30 continues upward supported by upbeat outlooks from blue chip retail stocks. Confidence has shot up after a rise above the daily resistance at 33000 and then May’s high at 34000, setting 34500 at the origin of the liquidation in April as the target. A break above that supply zone would intensify the short squeeze. The RSI’s overbought situation on the daily chart may weigh on the enthusiasm. A retreat below 33850 could trigger a wave of profit-taking, and 33400 would test short-term buyers’ resolve.
