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

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

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


Wednesday, US stocks ended the day higher after the beginning of the earnings season reports showed some mixed results during Q-1 of this year.

On the negative side, S&P 500 companies are expected to have lost 7.5% on average due to weak Crude Oil prices, CocaCola (NYSE:KO) fell Wednesday 4.8% after reporting that sales fell for the 4th Quarter running.

The DJIA (NYSEArca:DIA) rose by 100 pts intra-day, but closed up 0.24%, or + 42 pts, at 18,096.27.

The NAS Comp and the S&P 500 added 0.16% and 0.08% respectively.

The DJIA daily favors some further advances, as the index posted a higher high and a higher low for 3rd day running, the technical indicators extended their advances and maintain their Bullish slopes within positive territory.

In the near term

According to the 4 hours, the index may correct lower, as the technical indicators turned sharply South from overbought, but the overall stance is Bullish as the index remains well above its MAs, with the 20-Day SMA currently at 17,973.

Support marks:18,092 17,973 17,902
Resistance marks: 18,171 18,244 18,300

Stay tuned…

Paul Ebeling


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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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