State of Dow Jones - Calendar Week 41 2021

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State of Dow Jones - Calendar Week 41 2021 Welcome to the second episode of the blog post series "State of Dow Jones", where we look at the leading US stock index from different perspectives and try to determine how solid the current development is. Technical Chart for Dow Jones Every "State of Dow Jones" blog post should start with the technical chart, so here we go (created on tradingview.com): The Dow Jones overcame the old falling highs and the important resistance at 25 000, now trading at 35 294 points. The index is trading above its SMA 20 again and even went into the upper Envelope band. This means the Dow is slightly overheated and it is likely that the index will show a small pull-back before rising again. The RSI is at 60, three trendlines were identified and crossed during the last trading days. The technical chart provides us with enough confidence to say that the correction might be over and the outlook is neutral, or maybe even slightly bullish. Marke

Crypto Advance Decline Line for Crypto Index BCI5 and other Market Breadth Data

Wow! Some crypto currencies had a very good day. Rumor has it Amazon and Twitter could plan to accept crypto currencies as a payment method. Surely, those rumors need to be taken carefully, though.

However, market breadth data is influenced by today's spike in the prices. So - ket's have a look for them.

Here is the market breadth data for the crypto index BCI5 from Bitpanda.

State of the BCI 5 crypto index

Summary




Advance Decline Line and Advanced vs. Declined for this crypto index


McClellan Oscillator and McClellan Summation Index for this crypto index





% of crypto index members above their SMA50, SMA100 and SMA200



Bigger picture: Market breadth data for the last 6 months (selection)

 

To gain a better impression of what was happening during the last days, I attached a data screenshot of a bigger time frame (6 months).

As you can see, the McClellan Summation Index is near the 0 line. This is a good sign for the longer time frame. The McClellan Oscillator, however, went from one extreme to another. For the shorter time frame, this is usually a sign that the speed of the short-time trend might slow down or even reverse (short-tearm meaning days).




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