State of Dow Jones - Calendar Week 42 2021

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Hi folks! Welcome to another part of the blog post series State of Dow Jones for Calendar Week 42 2021 Part three already. This week has been incredible for those that invested into the Dow Jones. But how healthy is the current price development and what's the outlook?   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 managed to trade above its SMA 20 and also overcame the turquoise trendline / flag which happened to be at the 35 000 resistance level, which became a support shortly afterwards. The index only knew one direction during this week - upwards. The current price movement stopped a few points above the old all-time high and within the upper Envelope band. On the daily time frame, the index now looks slightly overheated. For now, the old all-time high around 35 631 holds, but it wouldn't be a big surprise if there was a small pull-back before t

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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