LIVE MARKETS-Bulls eye 200-DMA reclaim as Dow bounces from correction low

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BULLS EYE 200-DMA RECLAIM AS DOW BOUNCES FROM CORRECTION LOW

The main U.S. indexes all snapped five-week losing streaks during last week's holiday-shortened trading, with the Dow Jones Industrial Average .DJI rallying nearly 3% for its biggest weekly gain since late November.

The blue-chip average had confirmed a correction on March 27, ending down 10.01% from its February 10 record closing high. Last week's rebound developed after the Dow tested significant support, including the 38.2% Fibonacci retracement of its April 2025 to February 2026 advance at 45,202.60 and the cluster of prior highs from December 2024, January 2025 and July 2025 near 45,016 to 45,073.

The Dow hit an intraday low of 45,057.28 last Monday before a sharp midweek rally. The DJI closed at 46,054.67 on Thursday, leaving it down 7.34% from its record close.

Ahead of Monday's open, E-mini Dow Futures YMcv1 are slipping around 50 points, or 0.1%.

A key hurdle for bulls is the 200-day moving average, currently around 46,740. Since ending below this closely followed long-term moving average on March 18, the Dow probed back above on four days before selling back below it. Above that, the 23.6% Fibonacci retracement at 47,232.15 and the March 17 high at 47,428.12 provide additional resistance.

On the downside, a break of 45,016 could open the path toward a weekly Gann Line near 44,080, the 50% retracement at 43,562.29 and the August 2025 trough at 43,340.68.

(Terence Gabriel)