Tuesday’s Technical Outlook for the DJIA (.DJI)

Tuesday’s Technical Outlook for the DJIA (.DJI)

Tuesday’s Technical Outlook for the DJIA (.DJI)

Monday, all major US stock market indexes finished in the Green, with the DJIA + 106 points to end at 18,004.16, !st time above the Key 18,000 mark  since July 2015.

The NAS Comp advanced 0.44% to close at 4,960.02, and the S&P  + 13 points to finish at 2,094.34.

Stocks were boosted as better than expected earnings reports outpaced Crude Oil prices’ decline.

The benchmark index is set to continue advancing, as in the daily, its well above a now Bullish 20-Day SMA, and the Momentum indicator is bouncing from its 100 mark, as the RSI indicator resumes its advance near overbought territory.

In the near term

The 4 hours’ technical indicators have turned South after extending above their mid-lines, suggesting some consolidation ahead. But, as long as the index holds above its 20-Day SMA, currently around 17,902, the analysts are favoring the Northside.

Support marks:27,902 17,866 17,814
Resistance marks: 18,025 18,105 18,171

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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