Posts Tagged ‘dow jones’
DJIA Bounces as US Dollar Falls
Friday, May 21, 2010 16:16 4 CommentsThe Dow Jones Industrial Average breached the 10,000 level at the open and then rallied back 180 points from the low to close at 10,193. In a previous post I mentioned that the major averages were close to major support levels while approaching oversold levels. Those levels were tested today before the market moved higher.
(Chart [...]
Dow to Break 10,000; Test of Crucial Support is Near
Friday, May 21, 2010 7:16 No CommentsAfter dropping 376 points yesterday, the Dow Jones Industrial Average is set to open down 95 points which would put it below the psychologically important 10,000 level. In my previous post, I mentioned that the ‘flash trade’ prices were real and we were heading for a retest of those lows. Currently, the major averages are [...]
Dow; S&P Break 200-day MA. ‘Flash’ Lows Were Real
Thursday, May 20, 2010 12:05 2 CommentsBoth the Dow Jones Industrial Average and S&P 500 Index are trading below their 200-day moving average. NASDAQ bucked the trend bouncing back above it 200-day MA.
Many analysts in the technical community were unsure if the ‘flash trade’ lows were actual prices which should be included in their analysis, or merely a ‘machine’ blip which [...]
Dow/Gold Ratio Historical Chart (1968-2009)
Thursday, May 20, 2010 10:49 No CommentsChart of the Dow Jones Industrial Average priced in ounces of gold since 1968. The data set used divides the DJIA annual closing price by that years average gold price. Because this is annual data, some of the extreme monthly readings are smoothed out.
The bottom, in our example, occurred in 1980 when the ratio was [...]
Dow Jones (DJIA) Elliott Wave Count & Fibonacci Retracement
Monday, May 17, 2010 15:10 2 CommentsThe Dow Jones retreated from key Fibonacci level of .618 (61.8% of the previous move) in April after the probable completion of wave 5 (Elliot Wave count).
Normally, bullish trends are characterized by 5 waves, while corrective trends are characterized by 3. Considering the market completed an upward 5 wave pattern, rather than 3, suggests that [...]
The Uptick Rule & Fat Finger Idiocy
Friday, May 14, 2010 18:44 2 CommentsThere’s been no shortage of ridiculous explanations behind last Thursdays stock market plunge which took the Dow Jones Industrial Average down 1,000 points. Perhaps the most preposterous of them all is the so called “Fat Finger” theory which suggests that some “Lone trader” accidentally shorted S&P E-Mini futures contracts to the tune of $1 billion. [...]
Dow Jones 10-Minute Chart
Friday, May 14, 2010 14:28 No CommentsThe Dow Jones Industrial Average ended the last day of a volatile week down 162 points (-1.51%). While both the long and intermediate term outlook appear negative, the short term picture may improve in the coming days. It is important to note that the following is a 10 minute chart and so conclusions drawn must [...]
Dow Industrials, Transports, S&P Close Below Key Moving Averages
Monday, June 22, 2009 15:06 No CommentsLast week, we mentioned that technical indicators began to turn negative. Technical damage continued today as the Dow Jones Industrial Average, Dow Jones Transportation Average, and S&P 500 closed below their pivotal 50 and 200 day moving averages (first time since March), with all 3 averages registering an RSI sell signal. NASDAQ bucks the trend [...]
Inflating a Bull Market
Wednesday, June 10, 2009 19:31 3 CommentsMuch has been made over the recent stock market rally. The advance from the bottom has, indeed, been historic and has caught many of us by surprise. Though the market was extremely oversold and due for an upward correction, we continue to be amazed at its strength and longevity. A closer examination, however, reveals that [...]
Rising Dollar Spells Trouble for Stocks
Monday, April 20, 2009 20:31 5 CommentsLast week we mentioned that the spring rally had reached completion.The major averages were coming up against major resistance at a time when an oversold rally was losing momentum. Admittedly, our call was a couple of days early but today looks like a key reversal day. If the selling continues into tomorrows close, last week [...]





















