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.
Support marks: 17,770 17,725 17,681
Resistance marks: 17,832 17,890 17,964
Have a terrific week.
Latest posts by Paul Ebeling (see all)
- America’s Middle-class Tax Cut on the Way - October 21, 2018
- F1: Ferrari’s (NYSE:RACE) Vettel Was Very Fast In Qualifying Saturday - October 21, 2018
- President Trump, Congress Preparing a Response to the Arrest of Suspects in Khashoggi’s Death - October 21, 2018