The Dow Jones Industrials Average, the Dirty Thirty, that are blue-chip companies, that is followed mainly by the public, crosses above 50,000 for the first time in history. The S&P 500, the SPX, is the United States stock market. The Dow, nonetheless, is an important index especially when studying market history since it goes back the farthest.
The Dow crosses above 50K for the first time at 2:22 PM EST today, on Friday, 2/6/26. Once that occurred, the Friday night orgy was on with dip-buyers buying today's action with both fists.
50K is a nice big round psychological number so you would expect that it would be key S/R. This stands for support/resistance in technical trading. Price moves higher into the red circles but was spanked back down by the 50K resistance level refusing to allow it to cross above. Alas, price kept trying and poked up through in the blue circle. Another skirmish occurs but you see how price then maintains itself above the 50K level in the green circle so the red resistance becomes the green support.
As price moves higher and higher, overhead resistance levels, such as price levels, trend lines, and/or moving averages serve as resistance barriers and if price moves above they become support. On the way up, resistance becomes support.
As price drops, the lower support levels give way and become resistance levels going forward. On the way down, support becomes resistance. So if a certain price level is called out as key S/R, now you know what that means.
The Dow reaches a key milestone so the "Dow 50K" hats are handed out and the headlines write themselves this weekend. The stock market is at euphoric glorious highs. Everyone is jumping around like Mick with Happy excitement. You can smell the tulips. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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