Wednesday’s Technical Outlook for DJIA (.DJI)

Wednesday’s Technical Outlook for DJIA (.DJI)

Wednesday’s Technical Outlook for DJIA (.DJI)


US stocks finished lower Tuesday as Brexit concerns resurfaced following Bank of England’s Financial Stability Report, while disappointing US factory orders and a 4.7% dive in Crude Oil prices added further pressure to equities.

The DJIA lost 108 pts, or 0.61% to close at 17,840.

The S&P 500 dropped 14 pts, or 0.68%, to 2,088.

The NAS Comp fell 39 pts, or 0.82% to 4,822.

The DJIA perspective has turned less constructive as in the daily, indicators turned South but remain above their mid-lines while the 20 and 100-Day SMA crossover stands as Key support at 17,710.

In the 4 hours the picture is overall Neutral, as indicators have turned higher but below their mid-lines, while the index holds above a flat 200-Day SMA.


DJIA 178407, -0.61% resumed trading today after the US Independence Day holiday and its price action around the resistance band of 18000-300 turned out to be decisive. Key support stands at 17650. The overbought state demanded a small correction before it could attempt a sustainable breakout. Currently the DJIA mini 2:35a EDT Sep 2016 futures are trading at 17,708.00 or  -54.00 pts.

Support marks: 17,710 17,655 17,467

Resistance marks: 18,016 18,051 18,118

Stay tuned…


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