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

NASDAQ 100 with ongoing strength (23.08.2021)

NASDAQ 100 rising and rising and rising..

NASDAQ 100 unchained! What an incredible run this index had during the last weeks.

Some people have been worried about this leading tech index because the FED might announce the end of the money floods during the upcoming days.

Despite the upcoming event risk, the index is going upwards, marking a signal of strength. 

If you like technical analysis, you might find the current chart appealing aswell.

 

But what does the market breadth data for Nasdaq 100 tell us?

Market Breadth Data for Nasdaq 100, taken from https://www.advance-decline.net

 


Advanced vs. Declined reached a positive extreme today, so there is a high chance that the index will have only small or no advances during the next trading day at all. The Advance Decline Line for NASDAQ 100 shows no divergence. 

The McClellan Oscillator for NASDAQ 100 crossed the zero line today, which provides a buy signal for all cyclical traders with a short-term scope.

The McClellan Summation Index for NASDAQ 100 formed a bottom and is expected to rise during the upcoming trading days (well, at least that is what we hope for, right?). This would be a buy signal for anti-cyclical traders with a long-term scope.


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