Friday’s Technical Outlook for DJIA (.DJI)

Friday’s Technical Outlook for DJIA (.DJI)

Friday’s Technical Outlook for DJIA (.DJI)


Wall Street indexed rose in the last hour of Thursday’s session, with DJIA settling above the 18,000 level for the 1st time in over 2 weeks. The upward momentum in US equities was backed by markets’ positive mood, based on Wall Street bets that the UK referendum will finish with a “remain” victory.

Which now we know did not happen, and global markets are selling off.

The DJIA closed the day up 230 pts or 1.29%, at 18,011.07

The NAS Comp added 1.59%, to end at 4,910.04.

The S&P 500 added 1.34% and closed at 2,113.32.

The daily for the DJIA shows that the index has advanced beyond its horizontal 20-Day SMA, but the Momentum indicator was flat around its 100 mark, but the RSI indicator heads North around 61, supporting possible gains.

In the 4 hours, technical indicators head sharply higher within Bullish territory, and the 20-Day SMA extended above the 100 and 200-Day SMAs and maintains upward slope below the current mark, which suggests the risk towards the Northside.


While DJIA finished at 18011.07, +1.29%Thursday, Friday’s futures are down over 671 pts or 3.75% points down, DAX futures are over 800 pts down, almost 8%. The ‘blood bath” is a bit restrained in the Asian markets as Nikkei (15742.40, -3.05%) is still holding above the prior week’s low of 15396 despite the immense strength of JPY at 101.84. Even the comparatively insulated market of Shanghai (2854.00, -1.31%) is feeling the Brexit pressure.  PE.

Support marks: N/A
Resistance marks: 18,051 18,103 18,165


Stay tuned…

The following two tabs change content below.

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.

You must be logged in to post comments :