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

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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