Wednesday’s : (.)

US30 Index (DJIA) closed higher.

The mid-range close sets the stage for a steady to higher open Wednesday in New York.

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

If DJIA extends the decline off of the May highs, the February low crossing is the next Southside target.

Closes above the 10-Day MA crossing are needed to confirm that a short term low 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 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 McGraw-Hill 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 Edward Jones.

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 Oscillator

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…

Paul Ebeling

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