Dow Jones Does it Again: Heads Down for the 6th Straight Day

News Releases Impacting Dow Jones

  • Forecasted Michigan Consumer Sentiment Prel in United States: 64. The previous number: 65.2. (1.84% difference between the two.)

The Daily View for Dow Jones

  • At the moment, INDU’s price is down -103.81 (-0.33%) from the day prior.
  • Dow Jones has seen its price go down 5 out of the past 5 days, thus creating some compelling opportunities for bears.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Dow Jones. Given that we see downtrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
  • Divergence between INDU’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in INDU’s price.

Below is a daily price chart of Dow Jones.

INDU

Latest News Discussing INDU

  • Markets Pare Intraday Losses, Still Finish Marginally Lower – Henry Khederian
    May 12, 2022

    U.S. indices traded lower Thursday as stocks experienced continued volatility amid concerns over rising interest rates and inflation.
    U.S. inflation data came in higher-than-expected Wednesday. The headline CPI rose 8.3% in April, down slightly fr…

  • Recession Looming? – Broadleaf/Doug MacKay
    May 12, 2022

    If we do have a recession sometime in the next twelve months, it doesn’t appear as though an unknown asset bubble is about to pop.

  • PPI +11% Year Over Year: Lower, Still Very High – Mark Vickery
    May 12, 2022

    PPI headline for April came in-line with expectations for +0.5%, which is a welcome drop from the upwardly-revised cycle high +1.6% in March.