goodguy

Dow Jones Industrials: Some observations.

DJ:DJI   Dow Jones Industrial Average Index
1. In a way it is not surprising there is some correction here as the mid line of channels often provides some support or resistance. 2. Notice that sudden spikes in volume usually lead to a rise in price at least in this chart (vertical arrows)
3. Every major drop has been forecast with a bearish divergence in the RSI . I know that is not always true but seems to have occurred in this chart. 4. In my own experience on many charts most often major drops on the weekly charts don't usually start with with RSI > 75 let alone >85 (like everything else I'm sure there are exceptions).
I have not done a scientific study so take it for what it is. But my experience makes me favor the recent action is more likely a limited correction with more up action to come but of course cannot say how long before that starts. Take care. Have a great weekend.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out