Dow Jones EOD Analysis - Continuous

[indrajit_16]

Thursday Night Update Of Dow Jones (DJIA)

The U.S. stock indexes closed solidly lower today. Dow closed at 8292 down by 130 points. The indexes were pressured by a bearish weekly jobless claims report and by news that the U.K's credit rating has been lowered. Bulls has not yet become too confident in these still-very-troubled economic times.

Dow Pivot Levels For Friday 22nd May:

• R3 - 8593.70
• R2 - 8504.90
• R1 - 8398.50
• Pivot - 8309.70
• S1 - 8203.30
• S2 - 8114.50
• S3 - 8008.10

Dow Quick Technicals: 5 DMA support broken, so 5 DMA will now act as resistance intraday, and the 5 DMA resistance now exists at 8378. Immediate trendline support comes at 8252 and trendline resistance comes at 8596. Daily RSI-2 is at 15.62 in sell mode and in strong bearish zone. Overall, don't look for keen buying interest on Friday, ahead of a long holiday weekend in the U.S.

Regards

Indrajit
StockManiacs - Analysis On Indian And US Stock Markets And Free Real Time Nifty Chart

 

[indrajit_16]

Dow weekend update

Dow as per Twigg's Money Flow Analysis:
Dow is consolidating between 8200 and 8600. Wednesday and Thursday's large volume and weak close along with Friday's consolidation indicates strong resistance at the upper border. Bearish divergence on Twiggs Money Flow (21-Day) signals selling pressure.

Breakout below 8200 would end the bear rally of recent months — and warn of a down-swing to test primary support at 6500. Reversal above 8600 is unlikely, and would test primary resistance at 9000.

Regards

Indrajit
StockManiacs - Analysis On Indian And US Stock Markets And Free Real Time Nifty Chart

 

[indrajit_16]

Tuesday Night Update Of Dow Jones (DJIA)

The Dow closed higher at 8473 on Tuesday and above the 5 DMA, crossing it at 8387. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 8230 would open the door for a larger-degree decline into early June. If the Dow renews this spring's rally, January's high crossing at 9088 is the next upside target. First resistance is last Wednesday's high crossing at 8591. Second resistance is January's high crossing at 9088. First support is the reaction low crossing at 8230. Second support is the 25% retracement level of the March-May rally crossing at 8066.

Dow Pivot Levels For Wednesday 27th May:

R3 - 8839.31
R2 - 8667.51
R1 - 8570.50
Pivot - 8398.70
S1 - 8301.69
S2 - 8129.89
S3 - 8032.88

Dow Quick Technicals: 5 DMA support now exists at 8387. Immediate trendline support comes at 8223 and trendline resistance comes at 8580. Daily RSI-2 is at 80.26 in buy mode and in strong bullish zone. Overall, any break and close above or below the trendline support or resistance can set the future momentum :clap:.

Regards,

Indrajit
StockManiacs - Analysis On Indian And US Stock Markets And Free Real Time Nifty Chart

 

[indrajit_16]

Wednesday Night Update Of Dow Jones (DJIA)

The Dow Jones fell of a cliff today which had to do with bond sales. 8200 is the level to watch on the Dow because this is the closing support level which has held since breaking up through it in late April. A close below 8200 (near its 34 DMA) would spark some technical and panic selling and the 50 day moving average and 8000 would be tested. On the upside... resistance has been in the 8575 - 8600 and any close above 8600 would be bullish. Till now Dow Jones is moving absolutely sideways looking for either a breakout or breakdown.

Dow Pivot Levels For Thursday 28th May:
R3 - 8641.86
R2 - 8569.23
R1 - 8434.62
Pivot - 8361.99
S1 - 8227.38
S2 - 8154.75
S3 - 8020.14

Dow Quick Technicals: 5 DMA support again broken and 5 DMA resistance now exists at 8358. 34 DMA support now exists at 8206 level confirming it a strong support zone. Immediate daily trendline support comes at 8225 and trendline resistance comes at 8574. Daily RSI-2 is at 33.95 in sell mode and entered strong bearish zone. Overall, daily and weekly trend is flat but interesting monthly trend is showing mild unconfirmed uptrend.

Regards,

Indrajit
StockManiacs - Analysis On Indian And US Stock Markets And Free Real Time Nifty Chart

 

[indrajit_16]

Friday Night Update Of Dow Jones (DJIA)

The Dow closed higher due to short covering on Thursday and it retraced some of Wednesday's decline. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the swing high at 8592 are needed to renew this spring's rally and would thereby open the door for a possible test of January's high at 9175. Closes below the swing low at 8221 would confirm that a short-term top has been posted while opening the door for a larger-degree decline into early-June. First resistance is Wednesday's high at 8496. Second resistance is the swing high at 8592. First support is the swing low at 8221. Second support is the 25% retracement level of the March-May rally crossing at 8066.

Dow Pivot Levels For Friday 29th May:
R3 - 8664.79
R2 - 8549.71
R1 - 8476.75
Pivot - 8361.67
S1 - 8288.71
S2 - 8173.63
S3 - 8100.67


Dow Quick Technicals: 5 DMA resistance again taken out, and Dow closed above its 5 DMA once again. 5 DMA support now exists at 8373. 21 DMA support now exists at 8314 and this level needs to be intact to keep the positive momentum intact. Immediate daily trendline support comes at 8229 and trendline resistance comes at 8568. Daily RSI-2 is at 60.93 in buy mode and back inton strong bullish zone. Overall, its a prolonged consolidative move taking place and better to trade intraday, than to go positional, till the trend-line support/resistance gets broken .

Regards,

Indrajit
StockManiacs - Analysis On Indian And US Stock Markets And Free Real Time Nifty Chart

 

[indrajit_16]

Dow weekend update (week starting 1st June)

The Dow closed higher in quiet end-of-month trading on Friday. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible in early June. Twigg's Money Flow Indicator breaks its resistance trend line indicates closes above the last swing high at 8592 is likely and would thereby open the door for a possible test of 200 DMA at 8780 or even January's high at 9175. Whereas a failure to cross the trading channel will indicate retest of the low of the channel and any closes below the swing low at 8221 would confirm that a short-term top has been posted while opening the door for a larger-degree decline into early-June.

Dow Pivot Levels For Monday 1st June:
R3 - 8714, R2 - 8618, R1 - 8559, Pivot - 8464, S1 - 8405, S2 - 8310, S3 - 8250

Regards,

Indrajit
StockManiacs - Analysis On Indian And US Stock Markets And Free Real Time Nifty Chart

 

[indrajit_16]

Monday Night Update Of Dow Jones (DJIA)

The Dow crossed above the previous swing high at 8592 thereby renewing the rally off March's low, faced resistance in intraday near its 200 DMA and closed sharply higher at 8721.44. The Dow Jones Industrial Average ignored news of GM's filing for bankruptcy as it pushed to its highest level since January of this year. Monday's rally was driven by increased investors confidence that the economy is turning the corner, putting the next focus on long-term inflationary concerns. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI have turned bullish signaling that sideways to higher prices are possible near-term. If the Dow extends today's rally, January's high of 9175 is the next upside target. First resistance is 200 DMA at 8766. Second resistance is January's high at 9175. First support is the 20-day moving average crossing at 8423. Second support is the reaction low crossing at 8221.

Dow Pivot Levels For Tuesday 2nd June:
R3 - 9080.41
R2 - 8920.55
R1 - 8821.00
Pivot - 8661.14
S1 - 8561.59
S2 - 8401.73
S3 - 8302.18

Dow Quick Technicals: First resistance is 200 DMA at 8766. Second resistance is January's high at 9175. First support is the 5 DMA at 8518. Second support is the last swing low at 8221. Immediate daily trendline support comes at 8458 and it now looks like if Dow can close above the 200 DMA, it will have some free ground to move up. Daily RSI-2 is at 92.54 in buy mode and into strong bullish zone. Overall, Dow again in a new bull orbit which can take it to January's high or even higher :clap:.

Regards,

Indrajit
Analysis On Indian And US Stock Markets, Free Nifty Trading System, USA And UK Index Charts

 

[indrajit_16]

Tuesday Night Update Of Dow Jones (DJIA)

The U.S. stock indexes closed firmer today in quieter trading. Stocks closed the session slightly higher in quiet trading alongwith low volume with the Dow (DJIA) ahead by +19.43. Some of the US indexes hit new multi-month today. We can see more consolidative trades in the stock indexes, heading into the summer months, when traders focus more on family vacations and outdoor activities.

Dow Pivot Levels For Wednesday 3rd June:
R3 - 8880.84
R2 - 8833.98
R1 - 8787.43
Pivot - 8740.57
S1 - 8694.02
S2 - 8647.16
S3 - 8600.61

Dow Quick Technicals: This is the second consecutive day that the Dow has faced resistance at its 200 DMA and could not managed to close above it. So, the first resistance is 200 DMA at 8751. Second resistance is January's high at 9175. First support is the 5 DMA at 8592. Second support is the last swing low at 8221. Immediate weekly trendline support comes at 8642 and below it daily trendline support comes at 8407. Daily RSI-2 is at 93.32 in buy mode and into strong bullish zone. Overall, watch out for a couple of consecutive closes above the 200 DMA, now for further bullish activities in the Dow.

Regards,

Indrajit
Analysis On Indian And US Stock Markets, Free Nifty Trading System, USA And UK Index Charts

 

[indrajit_16]

Wednesday Night Update Of Dow Jones (DJIA)

Overbought conditions finally caught up with stocks on Wednesday, as sellers emerged to take profits in a wide variety of high-flying stocks. Stocks ended their 4 day winning streak on worse than expected Factory Order figures and a slumping service sector. However, Fed Chief Ben Bernanke showed optimism by saying he expects the recession to end this year bolstering stocks to close well off their lows. The Dow fell 0.8% to close at 8675.24.

Dow Pivot Levels For Thursday 4th June:

R3 - 8886.30
R2 - 8813.35
R1 - 8744.29
Pivot - 8671.34
S1 - 8602.28
S2 - 8529.33
S3 - 8460.27

Dow Quick Technicals: 200 DMA is proving for a real resistance for the Dow and this is the third consecutive day that the Dow could not managed to close above it. Dow, today took support on the 5 DMA and sharply bounced back from the lows. So, the first resistance is 200 DMA at 8736. Second resistance is January's high at 9175. First support is the 5 DMA at 8619. Second support is the last swing low at 8221. Daily RSI-2 is at 54.70 in sell mode and neutral. Overall, any closing break outside 5DMA-200 DMA range will set the mood :idea:.


Regards,

Indrajit
Analysis On Indian And US Stock Markets, Free Nifty Trading System, USA And UK Index Charts

 

[indrajit_16]

Thursday Night Update Of Dow Jones (DJIA)

The U.S. stock indexes closed firm today. Several US Banks were upgraded by popular analysts triggering a rally in financial shares, as well as commodity stocks lifted the major averages into positive territory today. The Dow Jones (DJIA) advanced 0.9% to 8750.24. Traders now are awaiting Friday's key U.S. jobs report, which is not expected to be bullish, but traders have already factored in a significantly negative jobs-loss figure.

Dow Pivot Levels For Friday 5th June:
R3 - 8906.15
R2 - 8828.70
R1 - 8789.47
Pivot - 8712.02
S1 - 8672.79
S2 - 8595.34
S3 - 8556.11

Dow Quick Technicals: So, a relieve for the investors, Dow finally closed above its 200 DMA. The last time Dow closed above its 200 DMA was on 2nd May 2008. That too for only one day. So, this time the bullishness is yet to be tested. A couple of more closes above 200 DMA will definitely boost the sentiment and will target January's high at 9175 or even higher levels like 9435. Failure and respecting 200 DMA again will bring Dow back to the trading channel and can signal retest of 5 DMA (presently at 8663, and dynamic in nature) or even the last swing low at 8221. Daily RSI-2 is at 76.72 in buy mode and strongly bullish. Overall, do not be surprised to see more consolidative trade in the Dow, heading into the summer months, when traders focus more on family vacations and outdoor activities.

Regards,

Indrajit
Analysis On Indian And US Stock Markets, Free Nifty Trading System, USA And UK Index Charts

 

[indrajit_16]

Weekend Update Of Dow Jones (DJIA)

US stocks ended the day mixed after poor economic news counteracted the initial positive NFP figures. The jobless rate rose to such levels not seen in 25 years and consumer borrowing plummeted depressing stocks. Additional negative news of the Federal funds future contracts pricing in a 70% chance of an interest rate increase by the end of 2009 further dampened spirits. The Dow closed marginally higher at 8763.13 on Friday despite today's bearish unemployment data, which indicated that unemployment has reached 9.4%. Profit booking took away early gains and the mid-range close sets the stage ready for a steady opening on Monday.


Dow Pivot Levels For Monday 8th June:
R3 - 8973.87
R2 - 8906.64
R1 - 8834.88
Pivot - 8767.65
S1 - 8695.89
S2 - 8628.66
S3 - 8556.90

Dow Quick Technicals: This is for the 2nd straight day that the Dow has managed to close above its 200 DMA . Momentum indicators are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Steady Twigg's Money Flow indicator, well above zero (refer to the image) indicates if the Dow extends this spring's rally, January's high 9175 level is the next upside target. Closes below the 21 DMA at 8483 would confirm that a short-term top has been created. For Monday, first resistance is today's high at 8839. Second resistance is January's high at 9175. First support is the 200 DMA at 8710. Second support is the 5 DMA at 88697 and third support is the 21 DMA at 8483.

Regards,

Indrajit
Analysis On Indian And US Stock Markets, Free Nifty Trading System, USA And UK Index Charts

 

[indrajit_16]

Monday Night Update Of Dow Jones (DJIA)

Stocks took off to the upside, in late afternoon trade, after spending much of the session in negative territory. Bullish news that Nobel Prize winner economist, Paul Krugman, is calling for the recession to end by September and a surge in bank related stocks pushed stocks off their lows. Apple Inc released their much anticipated 3rd generation iPhone whose basic version will sell for less than $100.00. Despite the bullish surge late afternoon, stocks closed mixed on the day with the DJIA adding 0.8% to 8764.49 as it extended last week's trading range. The high-range close sets the stage for a steady to higher opening on Tuesday.

Dow Pivot Levels For Tuesday 9th June:
R3 - 8973.87
R2 - 8906.64
R1 - 8834.88
Pivot - 8767.65
S1 - 8695.89
S2 - 8628.66
S3 - 8556.90

Dow Quick Technicals: The Dow again managed to close above its 200 DMA. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends this spring's rally, January's high of 9175 is the next upside target. Closes below the 21 DMA at 8479 would confirm that a short-term top has been posted. First resistance is today's high at 8824. Second resistance is January's high at 9175. First support is the 200 DMA at 8710. Second support is the 5 DMA at 8685 and third support is the 21 DMA at 8479.

Regards,

Indrajit
Analysis On Indian And US Stock Markets, Free Nifty Trading System, USA And UK Index Charts

 

[gkron]

Hi,
Are these indicators for the Dow Futures or the actual Dow Indicies. I trade the Dow futures on the floor of the CBOT.
Thanks in advance,
gkron

 

[indrajit_16]

Hi GKRON
This is for the Dow spot. As future the spot, u can use them safely.

Regards

Indrajit

 

[indrajit_16]

Sorry for typo error. Read - as future follows the spot

Hi GKRON
This is for the Dow spot. As future the spot, u can use them safely.

Regards

Indrajit

 

[indrajit_16]

Tuesday Night Update Of Dow Jones (DJIA)

Stocks witnessed resistance at higher levels to close mixed on the day. Fears of an imminent rate hike and confusion regarding TARP payback findings counteracted great earnings news from Texas Instruments. Moreover an unclear sentiment emerged from a House Panel appointed to approve derivative regulations and signals from the Treasury pit of a pending rate hike further weighed on stocks. The DJIA closed down marginally to 8763.06. The mid-range close sets the stage for a steady opening on Wednesday.

Dow Pivot Levels For Wednesday 10th June:
R3 - 8880.65
R2 - 8841.95
R1 - 8802.51
Pivot - 8763.81
S1 - 8724.37
S2 - 8685.67
S3 - 8646.23

Dow Quick Technicals: Cheers to the bulls, it was the third consecutive day that the Dow closed above its 200 DMA. Trade Triangle too shows a strong uptrend in the Dow as it has scored +90 points on the rating parameters. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends this spring's rally, the 233 Day EMA at 9072 is the next upside target and above it the Dow will target last January's high of 9175. Closes below the 21 DMA at 8528 would confirm that a short-term top has been posted. First resistance is last Friday's high at 8900. Second resistance is 233 EMA at 9072. First support is the 5 DMA at 8729. Second support is the 200 DMA at 8682. Overall, the Dow posted an inside day today, it indicates an explosive move may take place either side on Wednesday. So far I cast my vote for that move to be on upward side :clap:.

Regards

Indrajit
Analysis On Indian And US Stock Markets, Free Nifty Trading System, USA And UK Index Charts

 

[kaisen]

Stocks witnessed resistance at higher levels to close mixed on the day. Fears of an imminent rate hike and confusion regarding TARP payback findings counteracted great earnings news from Texas Instruments. Moreover an unclear sentiment emerged from a House Panel appointed to approve derivative regulations and signals from the Treasury pit of a pending rate hike further weighed on stocks. The DJIA closed down marginally to 8763.06. The mid-range close sets the stage for a steady opening on Wednesday.

Dow Pivot Levels For Wednesday 10th June:
R3 - 8880.65
R2 - 8841.95
R1 - 8802.51
Pivot - 8763.81
S1 - 8724.37
S2 - 8685.67
S3 - 8646.23

Dow Quick Technicals: Cheers to the bulls, it was the third consecutive day that the Dow closed above its 200 DMA. Trade Triangle too shows a strong uptrend in the Dow as it has scored +90 points on the rating parameters. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends this spring's rally, the 233 Day EMA at 9072 is the next upside target and above it the Dow will target last January's high of 9175. Closes below the 21 DMA at 8528 would confirm that a short-term top has been posted. First resistance is last Friday's high at 8900. Second resistance is 233 EMA at 9072. First support is the 5 DMA at 8729. Second support is the 200 DMA at 8682. Overall, the Dow posted an inside day today, it indicates an explosive move may take place either side on Wednesday. So far I cast my vote for that move to be on upward side :clap:.

Regards

Indrajit
Analysis On Indian And US Stock Markets, Free Nifty Trading System, USA And UK Index Charts

Any thoughts after the event?

 

[indrajit_16]

Thursday Night Update Of Dow Jones (DJIA)

Any thoughts after the event?

Sorry, Kaisen, was out of my desk for last 7 days. So could not reply u in time. The result is already in front of u in the mean time.

Stocks opposed a three day losing streak on Thursday on the back of positive economic news from the job, confidence and manufacturing figures. Jobless claims had the first decrease since January, the Confidence Board's index of leading indicators climbed, and the Philly Fed Report indicated a slowing in the decrease of manufacturing. These positive signals triggered wide spread buying among the sectors. However, President Obama's financial reform measures were met with resistance as Treasury Secretary Geithner, struggled with direct answers to the law makers questions. Stocks closed mostly higher with the Dow advancing +58.42 to 8555.60 due to short covering as it consolidated some of this week's decline but still remains below the 21 DMA at 8591. The high-range close sets the stage for a steady to higher opening on Friday.

Dow Pivot Levels For Friday 19th June:

R3 - 8628.75
R2 - 8603.97
R1 - 8579.78
Pivot - 8555
S1 - 8530.81
S2 - 8506.03
S3 - 8481.84

Dow Quick Technicals: Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible in near-term. If the Dow extends this week's decline, the last swing low at 8221 is the next downside target. Closes above the swing high at 8911 would confirm that a short-term low has been posted. Friday's first resistance is the 21 DMA at 8591. Second resistance is the 13 DMA at 8616. First support is Wednesday's low of 8461. Second support is the last swing low at 8221.

Regards,

Indrajit
Analysis On Indian And US Stock Markets, Free Nifty Trading System, USA And UK Index Charts

 

[indrajit_16]

Monday Night Update Of Dow Jones (DJIA)

An extremely pessimistic economic forecast for 2009 from the World Bank smashed stocks to lower levels on Monday. The bank is expecting growth to decrease by 2.9% shaking confidence among traders. The volatility index VIX surged up over 13% intraday as traders started hedging to protect their holdings with derivatives. The Dow closed 201 points lower on Monday as it extended last week's breakdown below the 21 DMA. The low-range close sets the stage for a flat to lower opening on Tuesday.

Dow Pivot Levels For Tuesday 23rd June:
R3 - 8677.99
R2 - 8608.41
R1 - 8473.71
Pivot - 8404.13
S1 - 8269.43
S2 - 8199.85
S3 - 8065.15

Dow Quick Technicals: Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If the Dow extends today's decline, the last swing low at 8221 is the next downside target. Only closes above the 5 DMA at 8492 would counter the bearish outlook in the market. Tuesday's first resistance is the 5 DMA at 8492. Second resistance is the last swing high at 8877. First support is today's low at 8335. Second support is the swing low crossing of 8221 .

Regards,

Indrajit
Analysis On Indian And US Stock Markets, Free Nifty Trading System, USA And UK Index Charts

 

[indrajit_16]

Tuesday Night Update Of Dow Jones (DJIA)

Existing home sales missed analyst's optimistic estimates leading stocks to a choppy, uncertain session after yesterdays aggressive sell off. Boeing (down by 6.2%) led the selling after announcing a delay in their new 787 aircraft. The home building sector climbed despite the lagging existing home figure. The U.S. stock indexes closed mixed but mostly weaker today with the Dow losing 0.19% to close at 8322.91 with a narrow range-bound trading.

Dow Pivot Levels For Wednesday 24th June:
R3 - 8451.56
R2 - 8411.23
R1 - 8367.07
Pivot - 8326.74
S1 - 8282.58
S2 - 8242.25
S3 - 8198.09

Dow Quick Technicals: Bulls are fading. Uptrends on the daily charts under serious threat. Traders will closely examine the wording of the Federal Reserve's FOMC meeting minutes, which are to be released on Wednesday afternoon. Stochastics, ADX and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If the Dow extends this week's decline, the last swing low at 8221 is the next downside target. Wednesday's first resistance is the 5 DMA at 8435. Second resistance is the 21 DMA at 8530. First support is today's low at 8286. Second support is the last swing low of 8221. Overall, expect some quieter trading in the stock market in the coming weeks, amid summertime doldrums .

Regards,

Indrajit
Analysis On Indian And US Stock Markets, Free Nifty Trading System, USA And UK Index Charts