Friday’s Technical Analysis: (.DJI)

US30 Index (DJIA) CFD closed lower Thursday.

The low range close set the stage for a steady to lower open Friday in New York.

Stochastics and the RSI are overbought but still Neutral to Bearish indicating that sideways to lower prices are possible near term.

If DJIA extends this month’s rally, the May high crossing is the next Northside target.

Multiple closes below the 20-Day MA crossing will confirm that a short term top is in.

 

The   Industrial Average (.DJI), also called the DJIA, Industrial Average, the , the Industrial, the Dow 30, the DJIA, or simply the Dow, is a stock market index, and one of several indices created by editor and Dow Jones & Company co-founder .

The DJIA was 1st calculated on 26 May 1896.

Currently the DJIA is owned by S&P Dow Jones Indices, which is majority owned by Financial, it is the most notable of the Dow Averages, of which the 1st (non-industrial) was 1st published on 16 February 1885.

The averages are named after Mr. Dow and one of his business associates, statistician .

It is an index that shows how 30 large publicly owned companies based in the United States have traded during a standard trading session in the stock market.

The  Stochastic

The theory behind this indicator is that in an upward-trending market, prices tend to close near their high, and during a downward-trending market, prices tend to close near their low. Transaction signals occur when the %K crosses through a 3-period moving average called the “%D”

Stay tuned…

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