Friday’s Technical Outlook for DJIA (.DJI)

Friday’s Technical Outlook for DJIA (.DJI)

Friday’s Technical Outlook for DJIA (.DJI)

$DIA, $DJI

US stocks closed mostly lower Thursday, reversing early gains, pushed down by a sharp decline in Crude Oil prices as investors adopt a cautious stance ahead of the US NFPs report.

The DJIA lost 22.74 pts, or 0.13% to close to 17,895.88.

The S&P 500 fell 1.83 pts, or 0.09%, to 2,097.90.

The NAS Comp closed + 17.65 pts, or 0.36%, at 4,876.81.

The DJIA technical picture has turned from Neutral to slightly Bullish, as the daily indicators are flat above their mid-lines, and the index holds above the 20 and 100-Day MA crossover.

In the 4 hours, indicators point slightly higher around their mid-lines also supporting limited gains ahead of the official US jobs situation report Friday morning.

Commentary

DJIA at 17895.88, -0.13% tested the resistance of 18000 again staying inside the near term range of 17650-18000 for another session. A directional move can be expected Friday after the NFP data at 8:30a EDT.  PE

Support marks: 17,720 17,655 17,467
Resistance marks: 18,016 18,051 18,118

Stay tuned…

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