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

Vacation Time Roundup (2021)

Vacation Time Roundup (2021)

What happened during the last 10 days?

Vacation is over :( and it is time to catch up with the markets. What happened during the last 10 days?

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Major indices dropped


The chart above visualizes the price development for selected indices during the last 10 days, compared to market opening on day one.

Almost all selected indices declined and did not recover yet from the sharp drop we've seen with its lowest low on September the 20th:

  • The German tech stock index TECDAX gained 0,74% during this period
  • The indices NASDAQ 100, Dow Jones, SDAX, DAX, TECDAX, MDAX, Nikkei 225 and the Euro Stoxx 50 all developed in a similar way.
    • On September the 20th, the lowest low during the selected periods was reached, ranging from ~ 96,4% to ~ 97,3%
    • This evening, they're back with a range from 97,85% up to 99,06%, almost having recovered from the losses
  • The Hang Seng went down to ~ 92,3% (that's almost -8%!) and is now at 94,55%

 

Honestly, I think most of the market observers were expecting a drop or an "end of summer correction" and it is funny that this interesting time period was happening during my vacation. I expected something like this and gladly was prepared.

Starting tomorrow, I will update my charts and cover some indices with one or several new blog posts. 

Crypto also declined


Since I also cover crypto indices on my blog and my market breadth website,I also want to check out what happened to the major crypto currencies. Sadly I can't track the BCI5 and BCI10 easily within my charting tools, so I am going to be lazy and only cover BitCoin and Ethereum.

During the last 10 days, Ethereum actually rised to nearly ~109% before dropping to 86% on September the 21th.

BitCoin rised to ~106,88% before dropping to 92%.

If you need any more proof that crypto is volatile, look no further..

At the moment, Ethereum is back at 92% (still 8% decline during the last 10 days) and BitCoin currently resides at 95,76%.

If there is time, I will cover the BCI 10 index as well in one of the upcoming blog posts about the state of the stock and crypto indices.








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