Friday’s Technical Outlook for DJIA (.DJI)

Friday’s Technical Outlook for DJIA (.DJI)

Friday’s Technical Outlook for DJIA (.DJI)


Wall Street closed in the Red breaking a 9 session streak.

DJIA -79.24 at 18515.79, NAS Comp -16.03 at 5073.90, S&P 500-7.92 at 2165.10

On the weekly, the index has been trading just above it mid-line of its latest range, and just at Key MA.

On the daily, the index has been trading within the higher end of its latest range, with the index still above its MA’s.

The RSI indicator in the mentioned chart continues consolidating around overbought marks, the Momentum indicator diverges lower, heading South within positive territory.

In the near term, and according to the 4 hours, the DJIA technical indicators are losing upward strength within positive territory, mostly due to the lack of strength all session Thursday, the index held just above its 20-Day SMA, which maintains the Southside limited in the short term around 18,499.

Volume: Trade was light with about 802-M/shares exchanged on the NYSE

NYSE   Advance 1255   Decline  1724


DJIA at 18595.03 tested my resistance of 18600-50 Wednesday, but it remains to be seen if it can extend. Before considering the higher targets of 19100-300, it is important to see the price action trade in the 18600-700 band. PE

  • DJIA +6.3% YTD
  • Russell 2000 +6.0% YTD
  • S&P 500 +5.9% YTD
  • NAS Comp +1.3% YTD

Support marks: 18,499 18,431 18,371
Resistance marks: 18,560 18,620 18,675



Stay tuned…

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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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