Implications and Outlook
Right after plummeting in early morning trading session on Friday, stocks regained a bit of ground in the afternoon session but nonetheless finished the day for the most part lower. With all the decline on the day, the primary indices added to significant losses placed in the last trading session, with DJI sliding 180 points or 0.7% to 26447 - less than a tenth of the percent for the week.
The Index at this point retreated from its Key Resistance 26838 and freshly created all-time high along with completed inner Index Rally 26931, while the Trade Selector Signal model Mean Support at 26395 is a stopping platform. The trend model remains bearish on a short-term basis; however, the short-term downtrend is about to see reversal towards the Key Resistance.
Right after plummeting in early morning trading session on Friday, stocks regained a bit of ground in the afternoon session but nonetheless finished the day for the most part lower. With all the decline on the day, the primary indices added to significant losses placed in the last trading session, with DJI sliding 180 points or 0.7% to 26447 - less than a tenth of the percent for the week.
The Index at this point retreated from its Key Resistance 26838 and freshly created all-time high along with completed inner Index Rally 26931, while the Trade Selector Signal model Mean Support at 26395 is a stopping platform. The trend model remains bearish on a short-term basis; however, the short-term downtrend is about to see reversal towards the Key Resistance.