The Greedy Trader Weekly Analysis
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Dow Jones
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Summary:
Weekly :Broken trend resistance line
Daily :Broken trend resistance lineStochastic signal line moved above oversold areaA Parabolic SAR indicator is below and near the priceThe price is close to the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
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It was a first positive week after 3 consecutive negative weeks for the Dow Jones (^DJI). During the week, the ^DJI climbed 185.07 points, or 0.76%, and closed at 24456.48 on Friday, July 06, 2018. Weekly volume was -40% below average.

Long-term trend: [See ^DJI long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 6440.08 and reached 26616.71 on January 26, 2018. ^DJI gained -20176.63 points, or -313.30%, in 463 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (19249.43) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term uptrend had started on April 2, 2018 at 23344.52 and reached 25402.83 on June 11, 2018. ^DJI gained -2058.31 points, or -8.82%, in 10 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 23888.65 and resistance is at 25660.45. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See ^DJI weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 9, 2018. 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 June 11, 2018 at 25402.83 and reached 23997.21 on June 28, 2018. ^DJI lost 1405.62 points, or 5.53%, in 17 days. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (24198.09) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.

Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. 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 link to access Lane's Stochastic help.

The daily MACD line is below its signal line since June 15, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

A Parabolic SAR (stop and reversal) indicator (24559.95) comes close to the price (24456.48). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The price is close to 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.

Price is close to the 50 Day Moving Average. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 33.10
Williams' Percentage Range (W%R) 74.70
Lane's Stochastic (%D-Slow) 46.66
Greed/Fear Indicator (GFI) 35.01
Moving Average Converg./Diverg. (MACD) -104.73
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.84
Williams' Percentage Range (W%R) 59.00
Lane's Stochastic (%D-Slow) 65.93
Greed/Fear Indicator (GFI) 52.87
Moving Average Converg./Diverg. (MACD) 267.26
Trading Signals
Description Value Chart
Monthly Trendline Resistance 25660.45
Upper Bollinger Band 25374.37
Weekly Stochastic Crossing 24849.70
20 Day Moving Average 24662.54
50 Day Moving Average 24625.60
Parabolic System 24559.95
Price 24456.48
Daily Stochastic Crossing 24282.20
Weekly Trendline Resistance 24254.29
Weekly Trendline Support 24198.09
Monthly Trendline Support 23888.65
Lower Bollinger Band 23666.09
Yearly Trendline Resistance 22710.54
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 23997.21
Low Date 06/28/2018
High 24520.29
High Date 07/06/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 24254.29
Support 24198.09
High 25402.83
High Date 06/11/2018
Low 23997.21
Low Date 06/28/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 25660.45
Support 23888.65
Low 23344.52
Low Date 04/02/2018
High 25402.83
High Date 06/11/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 15370.33
Low Date 08/24/2015
High 26616.71
High Date 01/26/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 22710.54
Support 19249.43
Low 6440.08
Low Date 03/09/2009
High 26616.71
High Date 01/26/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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