xjo weekend zoomba lounge, page-21

BD - Now, what would Spencer Tracey drink? Straight bourbon, I think, with ice.

In America:

Dow Industrials -0.96%
Dow Transports -0.96%
SP500 -0.94%
Russell 2000 -1.26%
Nasdaq100 -1.33%
Comment: A weak day on the same volume as the previous session. Volume is low – affected by the Independence Holiday.

NewHighs/NewLows 167/7. NH>NL. The ratio of NH/(NH+NL) is at 96%. In the Do Not Sell Zone. The past week have been extremely strong but New Highs did weaken a little last night. New Lows are still benign.

Technical Comment on the Dow 30:

The Dow finished at 12772.5. Support/Resistance: 12810/13267.
Indicators:
Stochastic: 83.3. Overbought and rolling over.
RSI.9 is at 53.7. Positive but rolling over.
MACD Histogram. Below zero. Negative. Negative divergence set up
MACD. Above zero. Positive.
CCI.14: +35.7. Falling below +100. Not looking strong. A move below -100 would be very negative.
The 10-DayEMA (blue dotted line) is above the 20-DayEMA (red dotted line). Positive.

The medium term trend is up. The short term trend is up.

Last night the American Jobs Report was weak and the market dived.

The Dow 30 fell heavily but recovered a little in the afternoon trade. Support levels say this is as far as it goes. The chart is at multiple supports. Indicators say this has further to go down.

We have to wait for Monday to see which way it goes. A strong up day – those support levels hold and we should see more upside. A big down day – and all those support levels fall – and we should see more downside. So we have to wait till Monday. What’s the betting we get a weak inside day? :) Then we have to wait till Tuesday. :)

Redbacka