State of Dow Jones - Calendar Week 42 2021

Image
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

BitPandas Crypto Index BCI 10 - Market Breadth 7th August 2021

BitPanda Crypto Index BCI10 - Market breadth data as of today (7th August 2021)

BitCoin and Ethereum, the two largest members in the BCI10 crypto index from BitPanda, gained more ground during the last 48 hours, thus making it a very interesting weekend for crypto fans and investors.

How does the market breadth data reflect the current gains?

  • The Advance Decline Line reflects the end of the recent correction; it is still on the rise
  • Advanced vs. Declined Data obviously has a strong phase; since July the 21th 2021, the graph has spended most time around the value of 10
  • The McClellan Oscillator reached the highest values since I began to generate market breadth data for this index; currently, this indicator is loosing momentum but it is still positive and above the zero line
  • The McClellan Summation Index passed the 0 line on July the 30th, giving positive signals to cyclical traders and investors
  • The percentage of BCI10 crypo index members trading above their SMA50 began to rise from 0 to higher values after July the 23nd 2021 and is now at 90%; this is a strong statement about the current bullish trend
  • The percentage of BCI10 crypto index members trading above their SMA100 is currently at 20%, which is still low, but the highest level for the last 6 weeks
  • The percentage of BCI10 crypto index members trading above their SMA200 is currently at 40%; this is still a bearish level


Comments

Popular posts from this blog

State of Dow Jones - Calendar Week 42 2021

State of DAX - Calendar Week 42

State of Dow Jones - Calendar Week 40