DJI update for week ending 8 November 2019
Weekly Data Summary Suggests:
Current Weekly Trend (price relationship to the trend MA) is Bullish
The price relationship to the moving averages currently suggest Long positions.
Current chart score suggests that Bullish Sentiment is present.
The anticipated upcoming trade range is between 27240.36 - 28122.04
No Conolidation Exists at this time
Out of the combined (weekly & daily) indicators monitored, 0.00% are bearish, 100.00% are bullish and 0.00% are neutral
The prices are moving with the Trending Moving Average at a standard pace with a moderate market
The RSI that monitors bullish strength has a current weekly reading of: Bullish
The RSI that monitors bearish strength has a current weekly reading of: Neutral Bull
The strength demonstrated over the last 5 weeks is currently: Bullish
Daily Data Summary Suggests:
Current Daily Trend (price relationship to the trend MA) is Bullish
The price relationship to the moving averages currently suggest Long positions.
Current chart score suggests that Bullish Sentiment is present.
The anticipated upcoming trade range is between 27681.20 - 27915.54
Price Consolidation has formed between: 27579 - 27774.7
The prices have moved 3 times the normal trade range from Trend Moving Average, a stall/decline may occur to return to the average.
The RSI that monitors bullish strength has a current daily reading of: Bullish
The RSI that monitors bearish strength has a current daily reading of: Bullish
The strength demonstrated over the last 5 days is currently: Bullish
Comments:
The DJI appears at this point to have exhausted most upward strength. It was has been a five week climb to the new highs.
There are 2 gaps in the daily chart to be weary of. First is 10 and 11 October, a gap between 26603 - 26694. The second is 1 and 4 November, a gap between 27347 - 27402.
We have a very strong BULL in the market, in order to solidify the foundation, the BULL may turn around for a moment to fill these gaps.
If you are looking for buying opportunity. Watch for a fill of these gaps.
Calling NEUTRAL due to gaps.
** If data does not significantly change between trade dates, a daily update may be skipped. Monthly and Weekly updates will always be provided. **
*** I will be traveling from end of November thru end of December. I will update as I am able. ***
Current Weekly Trend (price relationship to the trend MA) is Bullish
The price relationship to the moving averages currently suggest Long positions.
Current chart score suggests that Bullish Sentiment is present.
The anticipated upcoming trade range is between 27240.36 - 28122.04
No Conolidation Exists at this time
Out of the combined (weekly & daily) indicators monitored, 0.00% are bearish, 100.00% are bullish and 0.00% are neutral
The prices are moving with the Trending Moving Average at a standard pace with a moderate market
The RSI that monitors bullish strength has a current weekly reading of: Bullish
The RSI that monitors bearish strength has a current weekly reading of: Neutral Bull
The strength demonstrated over the last 5 weeks is currently: Bullish
Daily Data Summary Suggests:
Current Daily Trend (price relationship to the trend MA) is Bullish
The price relationship to the moving averages currently suggest Long positions.
Current chart score suggests that Bullish Sentiment is present.
The anticipated upcoming trade range is between 27681.20 - 27915.54
Price Consolidation has formed between: 27579 - 27774.7
The prices have moved 3 times the normal trade range from Trend Moving Average, a stall/decline may occur to return to the average.
The RSI that monitors bullish strength has a current daily reading of: Bullish
The RSI that monitors bearish strength has a current daily reading of: Bullish
The strength demonstrated over the last 5 days is currently: Bullish
Comments:
The DJI appears at this point to have exhausted most upward strength. It was has been a five week climb to the new highs.
There are 2 gaps in the daily chart to be weary of. First is 10 and 11 October, a gap between 26603 - 26694. The second is 1 and 4 November, a gap between 27347 - 27402.
We have a very strong BULL in the market, in order to solidify the foundation, the BULL may turn around for a moment to fill these gaps.
If you are looking for buying opportunity. Watch for a fill of these gaps.
Calling NEUTRAL due to gaps.
** If data does not significantly change between trade dates, a daily update may be skipped. Monthly and Weekly updates will always be provided. **
*** I will be traveling from end of November thru end of December. I will update as I am able. ***