The Dow opened in 2022 at $36,313 and the year kicked off into a rally. For the first two trading days, the Dow continued to rally and on the third day it shot all the way up to $36,943, which now stands as its all-time high. Since the all-time high, price has dipped and every month in this year except for March and May have closed bearish.
A little backstory on the Dow. During the lockdown, specifically in March 2020, Dow Jones hit $18,300, a dramatic fall from the then all-time high at $29,550. Following the ease of lockdown, the Dow bulls got back in action and the price began a rally from April 2020 up to January 2022 – a 21-month bull run.
Last month, i.e. June 2022, price went as low as $29,642 and the month eventually closed at $30,767. The last time price was at $29,642 was in December 2020. In the next few weeks, we might be seeing price rally to $31,000 from its current price at $30,772.
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