Tuesday’s Technical Outlook For DJIA (.DIJ)
$DIA, $DJI
DJIA (NYSEArca:DIA) at 16620.66, +1.40% rose sharply breaking just above the 1st barrier at 16500-16600.
The possible Double Bottom mentioned yesterday is playing out, and if continues could be Bullish for this week. If the momentum continues DJIA may test at 17,000, if it fails in here, see a move back to 15,550 and below.
As I write this report the DJIA March Mini’s are -67.00 pts.
Position: Neutral with Bearish bias awaiting direction
| HeffX-LTN Analysis for DIA: | Overall | Short | Intermediate | Long |
| Neutral (-0.01) | Neutral (0.07) | Neutral (-0.10) | Neutral (-0.01) |
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
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