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This index was rising with lesser conviction since march and finally the uptrend has ended up with a head and shoulders pattern. Overall, the outlook is not very positive for the short term. Medium term is also under threat because of negative divergence in momentum indicators. A close below 7960 would confim further decline [...]
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Dow Jones Industrial Average (DJIA) or DOW in short, is having a tango with its 200days SMA for over two weeks now. But there is no sign of its trending above this average decisively. Yet, the trending down of this average itself is a good sign. Now, this index needs some triggers which are [...]
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DOW has not been able to manage past our much awaited mark 9000 as it is facing stiff resistance from 8800 levels. As shown in the chart below, its 200dma has somehow drifted lower and the index giving closes well above this moving average is a positive signal.
But the moving averages are still far [...]
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