Tuesday’s Technical Outlook for DJIA (.DJI)

Tuesday’s Technical Outlook for DJIA (.DJI)

Tuesday’s Technical Outlook for DJIA (.DJI)


US stocks finished lower Monday following a round of so-so earnings reports.

The DJIA fell 26 pots, or – 0.15%, to 17,977.24. The S&P 500 fell 3 pts, or -0.18%, to 2,087.79, the NAS Comp lost 10 pts, or -0.21%, to 4,895.79.

The DJIA fell as low as 17,850 before paring most of its daily losses, and the daily shows that the intra-day decline stalled above a still Bullish 20-Day SMA, currently at 17,818, the technical indicators consolidate within positive territory, with no directional strength.

In the 4 hours, the late recovery helped the technical indicators bounce sharply from oversold marks, but have halted the recovery around their mid-lines, the 20-Day SMA maintains a mild Bearish slope, capping the Northside in the short term at 18,008.


DJIA at 17977.24, -0.15% retested the support of 17900-800 before ending the session above the marks. The index is waiting for the FOMC meet to conclude Wednesday before the next trending move. Bias is cautiously Bullish above 17800-900 with the target/resistance unchanged at 18200-300.
As i write this report (2.24a EST)the DJIA June mini is trading at 0.00 flat at 17,902.00

Support marks:17,919 17,826 17,748
Resistance marks: 18,008 18,094 18,165

Stay tuned…

Paul Ebeling

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