Wednesday’s Technical Outlook for DJIA (.DJI)
Wall Street closed in the Green, with the DJIA reaching a fresh record high, up by 0.09% or 16 pts to close at 18,533.05.
The NAS Comp gained 26 pts, to end at 5055.78, the S&P 500 gained 0.24% to 2.166.89.
Netflix (NASDAQ:NFLX) stood out, reporting earnings of 9c against 2c expected, but closed 15% lower as the company added 1.7-M subscribers against Vs of 2.5-M.
On the daily basis, the index has been trading within the higher end of its latest range, with the index still developing well above its moving averages.
The RSI indicator in the mentioned chart continues consolidating around overbought levels, as the Momentum indicator diverges lower, heading South within positive territory.
In the near term, and according to the 4 hours, the technical indicators have continued to lose upward strength inside positive territory, mostly due to the lack of clear strength all through the session, whilst the index held above its 20-Day SMA, which maintains the Southside limited in the short term at 18,499.
- DJIA +6.4% YTD
- Russell 2000 +6.4% YTD
- S&P 500 +6.0% YTD
- NAS Comp +1.0% YTD
Support marks: 18,499 18,431 18,371
Resistance marks: 18,560 18,620 16,675