Thursday’s Technical Outlook for DJIA (.DJI)

Thursday’s Technical Outlook for DJIA (.DJI)

Thursday’s Technical Outlook for DJIA (.DJI)


Wednesday, US stocks closed in the Red, turning lower after a positive start on increasing uncertainty ahead of the UK vote on its EU membership, which is being seen now as close call.

On the last day before the vote, the “leave” camp is gaining ground according to Opinium and TNS polls released during the US afternoon session Wednesday.

The DJIA fell 48 pts, or 0.27%, to finish at 17,780.83.

The S&P 500 Index declined 3 pts to close at 2,085.44

The NAS Comp lost 10 pts or 0.22%, to 4,833.32.

The DJIA daily shows that the index has turned lower, as it closed the day below its 20-Day SMA, as the technical indicators turned South right below their mid-lines, lacking Southward momentum and not confirming an upcoming decline.

Near term, the 4 hours presents a firmer Bearish tone, given that the technical indicators head sharply South below their mid-lines, as the index is developing below its 20-Day SMA.


DJIA at 17780.83, -0.27% closed almost flat and the same sideways move in the range of 17500-18000 can continue for another session till the UK referendum result. PE

Support marks: 17,796 17,730 17,663
Resistance marks: 17,880 17,945 17,987

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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