Thursday’s Technical Outlook For DJIA (.DIJ)
$DIA, $DIA
Dow (NYSEArca:DIA) at 16484.99, +0.32% tested 16250-16000 and bounced sharply on the poor PMI data.
Again, bad news is good news as it may keep the Fed away from raising interest rates. No clear trend is visible yet, as the index trades between 15500-16700 keeping both Bullish and Bearish options open.
Waiting for the Noise to subside and a clear signal to emerge.
Position: Neutral
| Analysis for DIA: | Overall | Short | Intermediate | Long |
| Neutral (-0.10) | Neutral (0.07) | Neutral (-0.15) | Neutral (-0.22) |
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”
Stay tuned…
Paul Ebeling
HeffX-LTN
The post Thursday’s Technical Outlook For DJIA (.DIJ) appeared first on Live Trading News.