In America:Dow Industrials -0.28%Dow Transports -0.31%SP500...

In America:

Dow Industrials -0.28%
Dow Transports -0.31%
SP500 -0.16%
Russell 2000 -0.29%
Nasdaq100 -0.08%

Comment: Although down, a relatively benign fall with the Nasdaq100 barely budging, SP500 flat, and Dow 30 down modestly. Volume was once again low but up a little on the past two days

NewHighs/NewLows 206/21. NH>NL. The ratio of NH/(NH+NL) is at 94.9%. In the Do Not Sell Zone. The past week has been extremely strong. New Lows are still benign but creeping up.

Technical Comment on the Dow 30:

The Dow finished at 12736.3. Support/Resistance: 12717/13267.
Indicators:
Stochastic: 68.8. Below 80 and its signal line. Caution
RSI.9 is at 51.3. Positive but rolling over.
MACD Histogram. Below zero. Negative.
MACD. Above zero. Positive.
CCI.14: +4.4. Close to zero. Needs to bounce here


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 down.

The Dow 30 was down moderately in early trade then recovered about half those losses. Today was a narrow range day. The third day down in a row. If this is a bull market, that’s about all we expect.

The chart is at support of the oblique uptrend line and bounced off the 20-Day EMA. A move up is possible. Probable? We have to wait now on the Tuesday session. But it is looking hopeful.



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