Tuesday’s Technical Outlook for DJIA (.DJI)
Wall Street fell for a 3rd day running, as investors continue to run from equities and rushed into safe havens assets.
DJIA -132.86 at 17732.48, NAS Comp -46.11 at 4848.44, S&P 500 -17.01 at 2079.06
US stocks bowed to the risk averse environment generated by renewed fears about Brexit, falling Crude Oil prices, and soft Chinese data.
As for the DJIA technical picture: the indicators have turned South and are approaching their mid-lines, setting up the Bearish continuation.
In the 4 hours the technical indicators head South within negative territory, supporting some short term declines for the upcoming sessions.
Some investors are side lined in wait-to-see mode ahead of the Fed meeting’s results on Wednesday afternoon at 2:00p EDT.
DJIA at 17732.48, -0.74% is showing the initial signs of extended weakness for the 1st time in the past few weeks. If 17650 fail to contain the correction, then a test of 17400 comes into view.
Support marks: 17,650, 17,400
Resistance marks: 17, 732, 17,914 17,972 18,020