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

Crypto Market Breadth according to BitPanda's Crypto Index BCI 10 (08.09.2021)

Crypto Market Breadth according to BitPanda's Crypto Index BCI 10 (08.09.2021)

BitPanda's Crypto Index BCI 10 has 10 components. It does not mirror the whole crypto market, but gives an impression about how crypto is currently doing.
 
Here is the market breadth data for the crypto index BCI 10:
The market breadth data surely reflects the current development, meaning the little sell-off we saw during the last 24 hours.
We now see less crypto currencies trading above their SMA 50, 100 and 200. The decline is particular strong for the percentage of members trading above their SMA 200 (current value is 60% compared to 2 trading days before where we had 100%).

The McClellan Oscillator fell below the zero line and the McCllellan Summation Index started its decline (but is still on a high level, though).

If only looking at market breadth, the current state is nothing more than a necessary correction within a strong bullish development. I doubt that we see a sharper decline, at least the market breadth does not indicate this.

 
 

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