Wednesday’s Market Commentary On The DJIA (.DJI)
$DIA
US30 Index (DJIA) CFD the equity markets retreated for a 2nd straight session Tuesday. Participants were cautious ahead of earnings from Apple and a US Fed’s policy statement, and Cude Oil prices fell to multi-week lows on growing over supply concerns.
The DJIA finished lower on the day.
Markets are pricing in a 5% chance the US central bank will raise rates this week and many market participants believe the Fed will hold off until Y 2016, but investors will be watching for signals the central bank might act at its next meeting in December.
Overall outlook: Neutral
Position: Standing aside.
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”
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