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

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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