Dow Jones Reverses Higher From 52,250 Support, Eyes 53,500

On July 10, the Dow Jones staged a rebound from the 52,250 support zone, which coincides with the 38.2% Fibonacci retracement and 20-day moving average. This follows the July 8 S&P 500 Elliott Wave outlook that placed the index in a complex fourth-wave correction, with a break above 7,551 opening the door to 7,721 while a drop below 7,348 risks 7,140. The Dow analysis signals the start of minor impulse wave iii inside a larger bullish structure, implying traders should treat pullbacks as buying opportunities while the broader uptrend holds.