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

BCI10 Crypto Index from BitPanda what's happening right now?

BitPandas BCI 10 Crypto Index: What's happening right now?

After a strong weekend for crypto, some major currencies seem to take a break from the rally. The BCI 10 Crypto Index represents 10 crypto currencies and might help us to understand: What's happening right now?

 

Before I start writing, let's look at the BCI10 Crypto Market Breadth data:

 

Source: https://www.advance-decline.net/crypto-indices/bci-10/


Dissecting the Crypto Market Breadth Data

Some would say crypto was overheated a bit after the last strong weekend. 

The McClellan Oscillator dances with its zero line, while the McClellan Summation Index seems to have created a top. Values for this indicator are very high, comparable to the golden times from the beginning of the year.

The percentage of BCI 10 members trading above their SMA 50 is very high.

The percentage of BCI 10 members trading above their SMA 100 is very high.

The percentage of BCI 10 members trading above their SMA 200 is continuously rising and at the moment clearly above the 50% level. So the current bullish trend is intact and the crypto market, being represented by the BitPanda BCI 10 crypto index, seems to be in the middle of an uptrend.

According to this data, it is likely that the biggest crypto currencies will loose momentum and consolidate before taking another attempt to reach old highs.



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