State of Dow Jones - Calendar Week 41 2021

Image
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

Dow Jones Advance Decline Line and McClellan Oscillator

I want to take the opportunity to show you the latest market breadth data for the Dow Jones index. I'll start by posting a screenshot of todays's Dow Jones Advance Decline Line and will then add the Dow Jones McClellan Oscillator. Afterwards, you'll see the current values for the Dow Jones McClellan Summation Index.


Dow Jones Advance Decline Line



The full index charting dashboard for Dow Jones, including the Advance Decline Line, can be found on advance-decline.net.


Dow Jones McClellan Oscillator



The full index charting dashboard for Dow Jones, including the McClellan Oscillator, can be found on advance-decline.net.

Dow Jones McClellan Summation Index

 

One note on seasonality

When making investment decisions, please keep in mind that we have a weak seasonality with the first year of Biden's presidency and being in the mid of this year's summer. Usually, the volumes will be low and the performance of US major stock indices could be less good compared to other times of the year.
 

Still, if you think you can do a good trade or investment, you should not stop if market breadth data or chart formations support your enter signal.




Comments

Popular posts from this blog

State of DAX - Calendar Week 36

State of Dax - Calendar Week 31