Friday’s Technical Outlook for the DJIA (.DIA)

Friday’s Technical Outlook for the DJIA (.DIA)

Friday’s Technical Outlook for the DJIA (.DIA)


Thursday, Wall Street finnished mixed, with the 3 US major stock market index flat around their daily opens.

The DJIA added 9 pts to end at 17,720.50, the S&P 500 off 0.02% at 2,064.11, and the NAS Comp lost 23 pts, to 4.737.33.

Crude Oil prices led the way among equities this Thursday, while in the US a disappointing unemployment claims report triggered concerns over the health of the sector, moreover after the poor NFPs report released earlier this month.

The DJIA sees a mild negative tone, as the 20-Day SMA keeps turning Bearish above the current mark, the technical indicators see modest Bearish slopes within negative territory.

In the 4 hours, the Bearish potential is stronger, as the technical indicators head sharply lower below their mid-lines, the index is still below all of its MAs, supporting declines towards the 17,500 area.


DJIA at 17720.50, +0.05% paused with a flat close. The near term Southward trend remains on target at 17500-400 intact, though without much Bearish momentum yet.

Support marks:17,698 17,630 17,540
Resistance marks: 17,791 17,846 17,898

Stay tuned…

Paul Ebeling

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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