Wedesday’s Technical Outlook for DJIA (.DJI)

Wedesday’s Technical Outlook for DJIA (.DJI)

Wedesday’s Technical Outlook for DJIA (.DJI)


Wall Street finished lower to mixed Tuesday, as the DJIA fell 86 pts, or 0.48%, to close at 17,787.13, the S&P 500 Index lost 2 pts, or 0.10%, to end at 2,096.96, and the NAS Comp finished up 14 pts to 4,948.05.

All 3 of the US major stock market  indexes closed May with gainers, but the DJIA was up just 0.1%, weighed by speculation over a US interest rate hike in the near term.

Early Tuesday, the DJIA fell to 17,725, but pared part of its daily losses just ahead of the close.

The daily shows that the index is hanging above a horizontal 20-Day SMA at 17,681, and the technical indicators have lost their Bullish slopes, but remain within positive territory.

In the 4 hours, technical indicators have recovered a bit, but remain below their mid-lines, and the 20-Day SMA is now flat around 17,890, the mark to recover if we are to see further gains Wednesday.


DJIA at 17787.20, -0.48% continues its pause to refresh near the interim resistance area of 17900-50, above which it can rise to 18100. From a broader perspective, the consolidation in 17780-18100 remains in line with expectation. PE

Support marks: 17,725 17,681 17,636

Resistance marks: 17,831 17,890 17,964

Stay tuned…

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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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