David Blitzer, who for years has been the principal voice in deciding who belonged in the vaunted Dow Jones Industrial Average (.DJI), is retiring after a nearly 40-year career

David Blitzer, who for years has been the principal voice in deciding who belonged in the vaunted  Dow Jones Industrial Average (.DJI), is retiring after a nearly 40-year career

David Blitzer, who for years has been the principal voice in deciding who belonged in the vaunted Dow Jones Industrial Average (.DJI), is retiring after a nearly 40-year career

David Blitzer, who for years has been the principal voice in deciding who belonged in the vaunted Dow Jones Industrial Average, is retiring after a nearly 40-year career at S&P Global.

Blitzer has led the S&P Dow Jones Index Committee since 1995, making him the arbiter who was in and who was out for the closely watched blue chip index. One of his more notable moves came last year when the index committee booted General Electric from the Dow after more than a century of membership.

In addition to his index responsibilities, Blitzer helped put together the Case-Shiller Home Price indices, which function as a key market barometer for the housing industry. He has presented the findings each month on CNBC, where and he and his trademark bow tie made regular appearances.

“David is a trusted colleague and friend to many of us. Always unassuming, and generous of his time and knowledge, David has provided us all with disciplined leadership and intellectual rigor to index analysis and management,” Alex Matturri, CEO at S&P Dow Jones Indices, said in a statement. “We will miss David’s leadership, intellect, generosity and sense of humor, as well as his ubiquitous bowtie.”

Blitzer also helps direct the composition of the S&P 500 and chairs various other index committees for S&P.

His retirement takes effect in August.

Overall, the bias in prices is: Upwards.

The projected upper bound is: 26,739.83.

The projected lower bound is: 25,677.34.

The projected closing price is: 26,208.59.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 29 white candles and 21 black candles for a net of 8 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 93.6683. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 9 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 62.10. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 25 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 155.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 15 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 1 period(s) ago.

Rex Takasugi – TD Profile

DJ INDU AVERG closed down -79.289 at 26,179.131. Volume was 26% below average (neutral) and Bollinger Bands were 56% narrower than normal.

Open High Low Close Volume___
26,213.55126,221.24026,122.31126,179.131 250,935,376

Technical Outlook
Short Term: Overbought
Intermediate Term: Bearish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 25,809.43 25,530.22 25,201.28
Volatility: 16 13 20
Volume: 300,661,024 311,007,904 320,275,200

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

DJ INDU AVERG is currently 3.9% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of .DJI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .DJI and have had this outlook for the last 17 periods.

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