Dow Jones (INDU) Heads Down For the 2nd Day In A Row, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

The Hourly View for INDU

Last Updated June 9, 2021, 19:19 GMT

At the moment, Dow Jones’s price is down -16.01 (-0.05%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Dow Jones has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Dow Jones Daily Price Recap

Dow Jones is down 0.09% (30.42) since the day prior, marking the 2nd day in a row it has gone down. Out of the 14 instruments in the equity indices asset class, Dow Jones ended up ranking 10th for the day in terms of price change relative to the day prior. Here is a daily price chart of Dow Jones.

INDU

Dow Jones Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days Dow Jones’s price has gone up 10 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.