Mondays Technical Analysis: DJIA (.DJI)
US30 Index (DJIA) CFD closed lower Friday.
DJIA extended Wednesday’s decliner below the 20-Day MA.
The low range close set the stage for a steady to lower open Friday in New York.
Stochastics and the RSI are Neutral to Bearish indicating that sideways to lower prices are possible near term.
If the DJIA extends this last week’s decliner, the July low crossing is the next Southside target.
Multiple Closes above the 10-Day MA crossing will confirm that a short term low is in.
Live Trading News is your best resource for investing in equities, foreign exchange, Gold, Crude Oil and other commodities. Live Trading News is a news service featuring analysis and trend alerts powered by the Thomson Reuters Products and HEFFX, the site updates 24/7 and is a must read for traders and investors, we cover the full range of investment sectors covered by HEFFX
The Dow Jones Industrial Average (.DJI), also called the DJIA, Industrial Average, the Dow Jones, the Dow Jones Industrial, the Dow 30, 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”
The post Mondays Technical Analysis: DJIA (.DJI) appeared first on Live Trading News.