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

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

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


Monday, Wall Street closed mixed, with the DJIA down 34 points or 0.20% to 17,705.91, the NAS Comp and the S&P 500 finishing up by 0.30% to 4,750.21 and 0.08% to 2,058.69 respectively.

A decline in Crude Oil prices mid-morning, and expectations of weak earnings reports weighed on investors’ sentiment.

The DJIA daily suggests that the risk is towards the Southside, as the 20-Day SMA is gaining Bearish slope above the current mark, while the technical indicators have turned South after failing to overcome their mid-lines.

Near term the Southside looks limited, given that in the 4 hours the index holds above its 20-Day SMA, and the Momentum indicator bounced from 100 and heading North within positive territory,as the RSI consolidates around its mid-line.


DJIA at 17705.91, -0.20% was stable in the 4-day range of 17600-800, which may resolve in the latter part of this week, maybe on the higher side towards 18000. Immediate support comes at 17500-400.

Renewed selling interest below the daily low, set at 17,660, should see the decline extending South to 17,539.

Support marks:1 7,734 17,660 17,616, 17, 500,-400
Resistance marks: 17,770 17,855 17,940

Stay tuned…

Paul Ebeling

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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.

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