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|It was the negative week for the Dow Jones (^DJI). During the week, the ^DJI dropped -562.58 points, or -2.12%, and closed at 25942.37 on Friday, May 10, 2019. It was the worst weekly loss since March 8, 2019. ^DJI was trading at average weekly trading volume. |
Long-term trend: [See ^DJI long-term trend chart]
A long-term downtrend had started on October 3, 2018 at 26951.81 and reached 21712.53 on December 26, 2018. ^DJI lost 5239.28 points, or 19.44%, in 12 weeks. The price is now at the 80.73% retracement level.
Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term uptrend had started on December 26, 2018 at 21712.53 and reached 26695.96 on April 23, 2019. ^DJI gained -4983.43 points, or -22.95%, in 16 weeks. The price is now at the 15.12% retracement level.
Weekly Technical Indicators: [See ^DJI weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since February 1, 2019. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See ^DJI short-term trend chart]
A short-term downtrend had started on April 23, 2019 at 26695.96 and reached 25469.86 on May 10, 2019. ^DJI lost 1226.10 points, or 4.59%, in 17 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 25, 2019. This is an indication that the short-term trend is down.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.