Monday’s Technical Outlook For DJIA (.DIJ)
$DIA, $DJI
DJIA (NYSEArca:DIA) finished Friday at 16391.99, -0.13% closing below LTN’s resistance band of 16500-600, as long as that holds near term looks Bearish South to 16250-16000.
There is a potential Double Bottom pattern on the charts which may be confirmed on a sustained break above 16500-16600.
DJIA is trading near Key levels and the short term movement would be the immediate trend decider.
Position: Neutral with Bearish bias
| HeffX-LTN Analysis for DIA: | Overall | Short | Intermediate | Long |
| Neutral (-0.17) | Neutral (0.07) | Neutral (-0.22) | Bearish (-0.38) |
The DJIA or simply the Dow, is a stock market index, and one of several indices created by Wall Street Journal editor and Dow Jones & Company co-founder Charles Dow.
The DJIA was 1st calculated on 26 May 1896.
Currently the DJIA is owned by S&P Dow Jones Indices, which is majority owned by McGraw-Hill Financial, it is the most notable of the Dow Averages, of which the 1st (non-industrial) was 1st published on 16 February 1885.
The averages are named after Mr. Dow and one of his business associates, statistician Edward Jones.
It is an index that shows how 30 large publicly owned companies based in the United States have traded during a standard trading session in the stock market.
The Stochastic Oscillator
The theory behind this indicator is that in an upward-trending market, prices tend to close near their high, and during a downward-trending market, prices tend to close near their low. Transaction signals occur when the %K crosses through a 3-period moving average called the “%D”
Have a terrific week.
Paul Ebeling
HeffX-LTN
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