Dow Jones is trading via a flag pattern. What does that mean?Dow Jones 30 SPOTCFI:US30CFIThe Dow Jones index recorded its second-best daily performance in July, rising by 1% to settle once again near its all-time highs at 52,720 while approaching a key resistance zone around 52,850. The index has also achieved a new milestone by breaking above the 10- and 20-day moving averages, an indication that it may be starting to shift back into an upward trend. However, this positive outlook remains dependent on breaking above and holding firmly above the 52,850 resistance level. Today is expected to be decisive for financial markets, especially with the Federal Reserve meeting in focus. Expectations currently lean toward holding interest rates steady at 3.75% for the fifth consecutive time. At the same time, markets are awaiting second-quarter corporate earnings results. In total, three key events are likely to have a clear impact on whether indices can maintain positive momentum and reach new record levels, or instead return to a phase of sideways consolidation, particularly after the Nasdaq index declined for a sixth consecutive session.