Dow Jones (INDU) Up 0.29%, in an Uptrend Over Past 90 Days; Doji Pattern Appearing on Chart

The Hourly View for INDU

Last Updated May 6, 2021, 03:018 GMT

At the time of this writing, Dow Jones’s price is down -62.21 (-0.18%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below it. The moving averages on the hourly 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.

Dow Jones Daily Price Recap

Dow Jones came into today up 0.29% (97.31) from the open of yesterday, marking the 3rd consecutive day it has gone up. Out of the 14 instruments in the equity indices asset class, Dow Jones ended up ranking 8th for the day in terms of price change relative to yesterday. Let’s take a look at the daily price chart of Dow Jones.


Dow Jones Technical Analysis

Volatility for Dow Jones has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 6 of the previous 10 trading days. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!