Dow Jones/US30 SHORT/SELL

The Dow Jones /US30 is currently experiencing a test of new highs as the ongoing rally continues. Yesterday's market performance was robust, with a significant number of index components showing upward movement. Notably, the RSI on the 4-hour chart has now entered into overbought territory.

Furthermore, the RSI on the daily chart also reached overbought levels yesterday, suggesting an increased likelihood of a potential pullback to retest the 4-hour, 8-hour, or daily demand zone. Such a pullback would serve to collect liquidity and fill the imbalance below.

Given this scenario, the Dow Jones may exhibit heightened sensitivity to the upcoming Federal Reserve decision. As a professional trader, it is of utmost importance to diligently monitor market conditions and respond appropriately to manage potential risks and capitalize on opportunities.

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yields higher during the waiting Fed's interests rate decision period, When Treasury yields rise, indicating higher interest rates in the economy, it can lead to a decrease in the attractiveness of equities like those in the US30 index. Higher yields may offer better returns on fixed-income investments, which can draw investors away from the stock market.