Tuesday’s Technical Outlook for DJIA (.DJI)

Tuesday’s Technical Outlook for DJIA (.DJI)

Tuesday’s Technical Outlook for DJIA (.DJI)


Monday, US stocks finished lower on low volume, in a quiet start to the week.

The DJIA fell 8 pts, or 0.05%, to close at 17,492.93. The S&P 500 dropped 4 pts, or 0.21%, to finish at 2,04804. The NAS Comp lost 3 points, or 0.08%, to end at 4,765.78.

The DJIA traded within limited range intra-day, confined within Friday’s extremes. Technical readings in the daily keep favoring the Southside, as the DJIA remains below a Bearish 20 SMA, and the technical indicators head South within negative territory, although lacking enough momentum to confirm further slides for Tuesday.

In the 4 hours, the index rests above a flat 20-Day SMA, as the Momentum indicator turned South above its 100 mark, and the RSI indicator maintains its Bearish tone, currently around 46, all of which supports a Southward move ahead.


DJIA at 17492.93, -0.05% finished in the Red again, and the grinding mode continues as expected and stated earlier. The possibility of a bounce to 17750-800 cannot be ruled out, but the larger downtrend may dominate the index in the near term and test to 17300 then 17150-100 next.

Support marks:17,460 17,398 17,325

Resistance marks: 17,569 17,607 17,675

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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