Dow Jones Industrial Average (.DJI) flat despite losses in shares of 3M, Cisco

Dow Jones Industrial Average (.DJI) flat despite losses in shares of 3M, Cisco

Dow Jones Industrial Average (.DJI) flat despite losses in shares of 3M, Cisco

The Dow Jones Industrial Average is falling Thursday afternoon with shares of 3M and Cisco facing the biggest setback for the index.

The Dow DJIA, +0.10% was most recently trading 5 points, or 0.0%, lower, as shares of 3M MMM, -1.66% and Cisco CSCO, -0.84% have contributed to the blue-chip gauge’s intraday decline. 3M’s shares have dropped $2.23 (1.3%) while those of Cisco have dropped $0.40 (0.9%), combining for a roughly 18-point drag on the Dow.

Home Depot HD, -0.51%, Boeing BA, -0.91%, and Travelers TRV, -0.64% are also contributing significantly to the decline. A $1 move in any of the index’s 30 components equates to a 6.78-point swing.

Technical Indicators

Overall, the bias in prices is: Upwards.

The projected upper bound is: 28,204.78.

The projected lower bound is: 27,179.09.

The projected closing price is: 27,691.93.

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 27 white candles and 23 black candles for a net of 4 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 34.2809. This is not an overbought or oversold reading. The last signal was a sell 3 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 51.04. 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 4 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 -93. This is not a topping or bottoming area. The last signal was a buy 0 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 9 period(s) ago.

Rex Takasugi – TD Profile

DJ INDU AVERG closed up 28.010 at 27,677.789. Volume was 15% below average (neutral) and Bollinger Bands were 50% narrower than normal.

Open     High      Low     Close     Volume___
27,736.05127,745.19927,562.80127,677.789 219,994,944
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 27,865.89 27,242.58 26,515.13
Volatility: 11 12 14
Volume: 229,980,208 246,439,088 270,272,000

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 4.4% 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 0 periods.

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