The Greedy Trader Weekly Analysis
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Archive
- 3/17/2023 -
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Dow Jones (^DJI)

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Summary:
Weekly :Broken trend support lineTrend resistance at 31714.83
Daily :
Move cursor over the icon to see details.

It was the negative week for the Dow Jones (^DJI). During the week, the ^DJI gave back -47.66 points, or -0.15%, and closed at 31861.98 on Friday, March 17, 2023. Weekly volume was 33% above average.

Long-term trend: [See ^DJI long-term trend chart]
A long-term downtrend had started on January 5, 2022 at 36952.65 and reached 28660.94 on October 13, 2022. ^DJI lost 8291.71 points, or 22.44%, in 40 weeks. The chart has formed a Falling Wedge chart pattern. The price is near the trend resistance line (31714.83). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 28660.94 and reached 34712.28 on December 13, 2022. ^DJI gained -6051.34 points, or -21.11%, in 8 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (37124.69) is broken. A broken support is considered to be a long-term bearish 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 support 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 24, 2023. 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 March 6, 2023 at 33572.22 and reached 31429.82 on March 15, 2023. ^DJI lost 2142.40 points, or 6.38%, in 9 days. The price is now at the 20.17% retracement 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 February 15, 2023. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.14
Williams' Percentage Range (W%R) 67.40
Lane's Stochastic (%D-Slow) 23.49
Greed/Fear Indicator (GFI) 31.07
Moving Average Converg./Diverg. (MACD) -349.53
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.21
Williams' Percentage Range (W%R) 70.30
Lane's Stochastic (%D-Slow) 31.76
Greed/Fear Indicator (GFI) 36.13
Moving Average Converg./Diverg. (MACD) 281.74
Trading Signals
Description Value Chart
Monthly Trendline Support 37124.69
Upper Bollinger Band 33793.36
Monthly Trendline Resistance 33584.78
50 Day Moving Average 33365.91
20 Day Moving Average 32689.14
Parabolic System 32402.40
Weekly Stochastic Crossing 32096.74
Price 31861.98
Daily Stochastic Crossing 31849.18
Quarterly Trendline Resistance 31714.83
Lower Bollinger Band 31521.31
Quarterly Trendline Support 27362.31
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 33572.22
High Date 03/06/2023
Low 31429.82
Low Date 03/15/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 34342.32
High Date 01/13/2023
Low 31429.82
Low Date 03/15/2023
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 33584.78
Support 37124.69
Low 28660.94
Low Date 10/13/2022
High 34712.28
High Date 12/13/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Test Resistance
Resistance 31714.83
Support 27362.31
High 36952.65
High Date 01/05/2022
Low 28660.94
Low Date 10/13/2022
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 6440.08
Low Date 03/09/2009
High 36952.65
High Date 01/05/2022
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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