Wall Street breathes green, Dow targets 20,000; Again?

Wall Street closed the first week of the year 2017 in green after mixed US data spooked weak dollar groupies.

Furthermore, the Fed broadcasted those traditional minutes where investors, traders, and analysts end altogether confused and in a place like the limbo. As expectations of higher interest rates shift between three, two or even one rate hike in the next 12 months. Suddenly, US equities and investments seem to be the most beautiful trophies in a divided world economy.

The Dow Jones Industrial Average finished higher by 64.51 points or 0.32% to close at 19,963.80 and close not too far from the lucky 20,000 figure. On the other hand, the S&P 500 joined the party as it moved up by 7.98 points, or 0.35%, to close at 2276.98 during a modest trading week. The Nasdaq Composite finished the session up 33.12 points, or 0.60%, at 5521.06.

Levels to watch

To the upside, once again the 20,000 figure as immediate resistance is a no brainer and a doable impossible, but who presumes that level has a sustainable narrative in equity indexes? Moreover, the downside pressure may be capped around the 50 SMA close to 19906.00 figure. However, a close and open below this support may raise concerns and attract enough bears to pull down towards 19800 and lower.

FOMC Minutes: Policymakers generally agreed to continue to closely monitor inflation