Dj30: strong fall of short positions

Fundamental analysis:

The Dow Jones index closed down 154.02 points, or 0.47%, at 32909.59 on Tuesday, August 23; In August, the initial value of the S & P global comprehensive purchasing managers index (PMI) fell to 45 from the final value of 47.7 in July, which was the lowest since May 2021. Prior to this week's Jackson Hole global central bank meeting, the stock market fell in recent trading days. It is expected that US Federal Reserve Chairman Powell will emphasize on Friday that the US Federal Reserve is firmly committed to eliminating inflation at a 40-year high.

Dow Jones index dj30 - 4-hour K-line chart shows:

Technical analysis:

According to the 4-hour chart, the market is shrouded in short-term sentiment, and the short-term decline may continue. The MACD indicator is in the short area, maintaining a weak consolidation and slowly declining, and the RSI indicator is in the short area, low and narrow consolidation;

Long and short turning point: 32951

Pressing position: 33064, 33188

Support position: 32771, 32671

Trading strategy: bearish below 32951, target 32771, 32671

Alternative strategy: bullish above 32951, targets 33064 and 33188