Monday’s Technical Outlook for DJIA (.DJI)

Monday’s Technical Outlook for DJIA (.DJI)

Monday’s Technical Outlook for DJIA (.DJI)


Wall Street finished lower Friday, with the DJIA down by 31 pts, to finished at 17,807.06, the NAS Comp lost 28 pts to close at 4.942.52, and the S&P lost 6 pts, to 2,099.13.

Financial related stocks led the decline, as a much weaker-than-expected US NFP’s report fueled fears over the economic health of the nation, with Goldman Sachs (NYSE:GS) down by 2.32% and Bank of America (NYSE:BAC) shedding 3.48%.

US stock indexes pared most of the losses into the close

The daily for the DJIA shows that the index bounced for a 3rd day running from a horizontal 20-Day SMA.

The technical indicators head modestly lower within positive territory, keeping the Southside limited in here.

In the 4 hours, the DJIA stands above its MA’s lacking directional strength, and the technical indicators turned South around their mid-lines, suggesting the index may turn lower Monday, particularly on a slide below 17,770, the immediate support.


DJIA at 17807.06, -0.18% remained un-moved by the bad NFP’s data traading in the same narrow range of 17650-900 for the 7th session running. A clear break above 17900-35 may take it to see 18100 -18350. The bias remains Bullish as long as it stays above 17600, PE

Support marks: 17,770 17,725 17,681
Resistance marks: 17,832 17,890 17,964


Have a terrific week.

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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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