Dow Jones (INDU) Moves Down For the 3rd Consecutive Day, in an Uptrend Over Past 14 Days; is Inching Close to 20 Day Average

The Hourly View for INDU

Last Updated June 10, 2021, 18:19 GMT

At the time of this writing, Dow Jones’s price is down -18 (-0.05%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on Dow Jones. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 200 hour changed directions on INDU; it is now pointing down. 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 came into today down 0.44% (152.68) from the open of yesterday, marking the 3rd consecutive day a decrease has occurred. Out of the 14 instruments in the equity indices asset class, Dow Jones ended up ranking 12th for the day in terms of price change relative to yesterday. The daily price chart of Dow Jones below illustrates.


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. For another vantage point, consider that Dow Jones’s price has gone up 9 of the previous 14 trading days.