Dow Jones Industrial Average (.DJI) extends losing streak to 7 days

Dow Jones Industrial Average (.DJI) extends losing streak to 7 days

Dow Jones Industrial Average (.DJI) extends losing streak to 7 days

U.S. stock-market indexes closed mostly higher Wednesday, though the Dow Jones Industrial Average posted its seventh consecutive daily decline, its longest losing streak since March 2017.

Recent trade has been driven by uncertainty surrounding trade policy, which has colored investor sentiment since March.

The Dow Jones Industrial Average DJIA, -0.17% closed 42.41 points, or 0.2%, lower to 24,657.80, recording its seventh straight daily loss.

Overall, the bias in prices is: Sideways.

By the way, prices are vulnerable to a correction towards 24,793.56.

The projected upper bound is: 25,201.04.

The projected lower bound is: 24,124.55.

The projected closing price is: 24,662.80.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 24 white candles and 26 black candles for a net of 2 black 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 18.3162. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 5 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 43.91. 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 buy 93 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 -94. This is not a topping or bottoming area. The last signal was a sell 5 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 sell 2 period(s) ago.

Rex Takasugi – TD Profile

DJ INDU AVERAGE closed down -42.410 at 24,657.801. Volume was 5% below average (neutral) and Bollinger Bands were 25% narrower than normal.

Open High Low Close Volume___
24,771.17024,804.76024,628.39124,657.801 359,523,488

Technical Outlook
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 25,101.35 24,652.52 24,240.27
Volatility: 8 14 18
Volume: 362,090,240 349,127,232 374,982,880

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 AVERAGE is currently 1.7% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of .DJI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on .DJI and have had this outlook for the last 11 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

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