After hitting a high of 8657, the DJIA has corrected, nearing the 100-day moving average at 7932.
There is still this lingering feeling that the index is undergoing some consolidation that is readying itself up for a reversal.
The 50MA racing towards the 100MA is one indication.  It’s becoming more bullish as the DJIA progresses.  The other [...]

Things seem to be looking better for the DJIA.  Not only has it stayed above the 50 and 100-day Moving Averages, but it is nearing the 200-day Moving Average at 8996.
Despite this, the general trend of the index remains sideways since October 2008.  Is it gearing itself for a reversal?  Maybe, maybe not.  Until the [...]

It is very possible that things could be turning around for the DJIA.  It has managed to stay above 8000 for some time but it still hasn’t made a big, decisive move.
The index closed barely above the resistance of the trading range.  Add to that, volume hasn’t picked up yet.  So for those reasons, I’m [...]

As we wrote last week, the DJIA is weakening in its ascent.  In fact, the index has tested the resistance of the trading range and hasn’t broken through that yet.
Although the index ended higher on the last day of the week, it was generally a down week as it ended at a lower level than [...]

Even in its own attempt to rise from the ashes, the DJIA is confused.  It would trade convincingly in one direction, change direction midway and end up in the previous direction by the close?
Whatever reason is causing the DJIA to act this way, it seems that the rally is fizzling out.  Just look at how [...]

The euphoria in the US market continues and the DJIA has posted its best gains in quite a while.  But that doesn’t mean that they’re already out of the woods.
The index has surpassed the 50-day moving average at 7559 and has made a support out of it for a few days before moving higher to [...]

It has been a good week for the DJIA.  After achieving the lows in March, the index has not looked back…yet.
The momentum has propelled the index to move past the 50-day moving average at 7597 and is now nearing the 100-day moving average at 8108.  I expect the DJIA to test this area and it [...]

The good news is that the DJIA has rebounded from a low of 6440 and has pushed the index back into the trading range.  The bad news is that the trading range is still going downwards.
Should the index push itself higher, it will meet resistances at the 50-day moving average at 7698, and at the [...]

Looking at the DJIA’s chart undoubtedly reminds me of quicksand.  The more you struggle, the faster you sink.
Based from this past week’s performance, the index has achieved lower lows, breaching through the support of the trading range at 6593.  Should the DJIA break through that, we can expect a downside target of 4546.
The MACD has [...]

It seems that the DJIA has finally shown us where it’s going to go…DOWN.  Last week, the index retested the November 2008 lows and even surpassed that only to close a bit higher at 7365.  However, the fact that the lows have been retested doesn’t look good for the market.
Assuming the DJIA is on its [...]