TECHNICAL ANALYSIS The DJIA opened lower, in a shortened trading week, and never looked back…with prices plunging -2.98% and ending on the bottom of the week’s range at the lowest weekly close since the end of October 2022. On the daily chart, the close is the lowest since December 20, 2022. Overall, the market is … Read more
TECHNICAL ANALYSIS The DJIA traded a narrow, inside week and settled slightly lower…closing down -0.17% toward the middle of the week’s range. The action does little to the charts as the Dow has basically been stuck in a trading range since the wide range of December 22, 2022. Sentiment remains neutral with a slight bias … Read more
TECHNICAL ANALYSIS The DJIA traded a whipsaw week and closed down -0.15% as the blue chips once again lagged the S&P, Nasdaq and Russell…which closed up +1.62, +3.31 and +3.88 respectively. Sentiment remains slightly neutral while momentum indicators have turned toward ‘greed’ with the 52-week high/low reaching an extremely frothy +2.90 on last Friday’s close. … Read more
TECHNICAL ANALYSIS The DJIA traded an inside week and settled in the upper end of the weekly range, closing out the week with an advance of +1.8%. The Dow continued to lag the S&P, Nasdaq and Russell which had stronger intraweek performances. Sentiment is leaning toward greed again and the 52-week new highs/lows closed at … Read more
TECHNICAL ANALYSIS The DJIA traded lower all week and ended down 2.7% in the lower half of the weekly range. Last week was a mix of layoff announcements and political maneuvering over the US debt limit. The tech and secondary markets performed much better than the blue chips, with the Nasdaq actually eking out modest … Read more
TECHNICAL ANALYSIS The DJIA spent most of last week on the upside and settled with a 1.99% increase on the week as prices inch back toward the late 2022 swing highs. The “Dow” continues to outperform the S&P500 and the tech-centered Nasdaq Composite. The 52-week H/L line remains frothy, closing the week at -0.16. Sentiment … Read more
TECHNICAL ANALYSIS The DJIA saw a whipsaw trade last week, ending with a surge on Friday that carried the market to a four-week high and an upside breakout of the flagging pattern that had developed to the side of the recent selloff. The action took a slight edge off the fear and greed indices while … Read more
TECHNICAL ANALYSIS The DJIA traded a tight, inside week on quiet holiday volume and closed fractionally lower on the week. Short-term, prices are building a flagging triangle pattern off to the side of the recent decline. The hourly is trying to turn up from oversold conditions and the daily is doing the same. Conversely, the … Read more
TECHNICAL ANALYSIS The DJIA traded a massive outside week down with prices setting a new trading high Tuesday and then swooning 2057.7 points to close in the bottom portion of the week’s range for a total decline of 1.66%. As we pointed out in last week’s update, the hourly chart was showing a rounded top … Read more
TECHNICAL ANALYSIS US Dollar Index Weekly H-L-C In our update in early October we speculated: The big question is, could we be looking at an intermediate and perhaps even longer term high in the US Dollar? One indicator is that there was critical timing indicated for September 23rd to the 26th for all the financial … Read more