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

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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