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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 following a strong trendline

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NASDAQ 100 following a strong trendline I've been covering the NASDAQ 100 multiple times during the last days as you've seen. The reason for this is that this leading tech index shows an incredible strength despite the Tapering discussions and the various risks which emerged during the last weeks. Together with you, I want to understand where the chances and risks are for this index. NASDAQ 100 Chart Source: tradingview.com The image above shows a simple NASDAQ 100 chart with the leading trendlines. As you can see, there is a corridor limited by a supporting trendline and a line which might be a resistance line. The index has touched this upper line multiple times and has been trading just beneath it for four days in a row. I believe that this trendline is of great importance and chances are high that the NASDAQ 100 will not cross it soon (just my personal opinion). At the moment, this trendline also crosses the upper border of the Envelopes, so there is even another resistance