Try as it might, the DJIA just can’t seem to get out of its funk.

For the past two weeks, the index has been trying to bring itself above 8500.  It has been reaching that and higher levels but just can’t seem to move away from the area due to the resistance line that we saw.  It is currently struggling against the resistance.

Although the 50 & 100-day moving averages are now in a bullish position, the 200MA, is still going to test the index should it move past the resistance at around 8500.  The 200MA is at 8779.

The MACD shows us that the DJIA is currently experiencing some correction.  So this may be a good time to put your foot off the gas on your buying sprees.  It may be best to watch how the market moves so you don’t get caught up in the barrage should selling happen.

Recommendation: Wait and see
Resistance: 8500