Dow closed at 9544 on Friday, down 36 points for the session. For the week, the index rose 39 points.
The technical picture is mixed at this point.
The ADX and DIs indicators are indicating a continuing up trend.
RSI is showing a divergence pattern with the Dow making a high this week but with no confirmation from the RSI indictor. This is bearish and suggests a possible sell down.
The MACD indicator is not able to make a decisive crossover with its signal line and it shows that the bull’s strength is waning.
The moving average is showing a bullish picture with the Dow above its 14, 25 and 50 day moving average.
At this point, the bulls and bears are equally matched and there is no clear evidence of where the market is going. However I will lean more towards the bear's camp.
The technical picture is mixed at this point.
The ADX and DIs indicators are indicating a continuing up trend.
RSI is showing a divergence pattern with the Dow making a high this week but with no confirmation from the RSI indictor. This is bearish and suggests a possible sell down.
The MACD indicator is not able to make a decisive crossover with its signal line and it shows that the bull’s strength is waning.
The moving average is showing a bullish picture with the Dow above its 14, 25 and 50 day moving average.
At this point, the bulls and bears are equally matched and there is no clear evidence of where the market is going. However I will lean more towards the bear's camp.
1 comment:
The dow jones is very outdated.
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