Friday’s Technical Outlook for the DJIA (.DIA)

Friday’s Technical Outlook for the DJIA (.DIA)

Friday’s Technical Outlook for the DJIA (.DIA)


US stocks failed to sustain intra-day gains and closed flat to little changed Thursday, as the rally in Crude Oil and energy related issues lost momentum during afternoon trade.

DJIA rose 9 pts, or 0.05%, to close at 17,661, the S&P 500 Index lost 0.5 pt, or 0.02%, to 2,051, the NAS Comp fell 8 pts, or 0.18%, to close at 4,717.

Disappointing US jobless claims data weighed on sentiment as participants await the Key US NFPs (nonfarm payrolls) report due Friday.

The Bearish momentum continues in the index, and the daily shows that the price is currently below its 20-Day SMA, as the technical indicators maintain their Southward slopes below their mid-lines.

In the 4 hours, the technical indicators have turned North from near oversold mars, but remain below their mid-lines, the 20-Day SMA acts as dynamic resistance now around 17,731, having accelerated its decline below the 100 and 200-Day SMAs.


DJIA at 17660.71 traded inside the range of the Wednesday’s session, a sign of contracted volatility, while waiting for the important US NFPs (non-farm payrolls) data Friday. No directional bias in here, main support at 17500-400 and main resistance seen at 17900.
As I write this report the: DJIA mini 2:19a Jun 2016  17,551.00-23.00   17,569.00   17,591.00  17,539.00
Friday, 6 May Time of Release  LTN Est  Consensus Prior
Nonfarm Payrolls 8:30a EDT 190-K    207-K     215-K
Nonfarm Private Payrolls 8:30a EDT 180-K    191-K     195-K
Unemployment Rate 8:30a EDT 5.0%     5.0%     5.0%
Hourly Earnings 8:30a EDT 0.3%     0.3%     0.3%
Average Workweek 8:30a EDT 34.5     34.5     34.4

Support marks:17,609 17,530 17,440
Resistance marks: 17,692 17,731 17,812, 17,900

Stay tuned…

Paul Ebeling

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