Slowly, the Dow Jones Industrial Average (DJIA) is checking off each item it needs to do to get back on the bull.  Break back above the neckline, check.  Break the short term resistance line, check.  Set a higher level than the high in June, check.  Break through the moving averages, check.  Surpass the high set [...]

The DJIA continues to correct from the highs it made in June.  There is a small head & shoulders formation that already broke the neckline.  This could bring the index down to 7650.
The 100-day moving average may serve as a support at 7995, but I don’t know if that will be a strong support considering [...]

It looks like the 200-day moving average is winning the battle of the irresistible force meeting the immovable object.
Last week, we wrote that it is more likely that the DJIA will correct based on what the indicators are telling us.  True enough, the index followed our expectations because every rise it had the past week [...]

As we expected last week, the DJIA could not bring itself to higher levels.
The index has been flirting with the 200-day moving average but has not been able to break free from it.  By this coming week, it has to decide where it wants to go as it is now caught in between the 50MA [...]

DJIA acted like the little engine that could…or was it the little engine that couldn’t?
From what we have seen, the index backed off from its recent high of around 8700 and has been correcting since then.
The one thing noticeable was that it is the 200-day moving average that is preventing the DJIA to continue moving [...]

The DJIA has continued its sideways movement while staying above the 200-day moving average.
It may look resilient at first glance. However, I don’t trust the movement as the volume has been declining since May.
The other thing that makes this resiliency suspicious is that there’s a bearish divergence now in the MACD.
Since this is what is [...]

The DJIA has really been resilient and that’s given a lot of people something to cheer about…even if it’s only temporary.
The first thing that we noticed is that the shorter term resistance has already been broken and that the green days have been more regular than the last few months.  Due to this, many have [...]

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.  [...]

There is still weakness in the DJIA, as shown in the chart, when it couldn’t surpass the shorter term resistance at 8600.  It has corrected from there and we are probably seeing a continuation of the consolidation.
The 50-day moving average is poised to cross above the 100MA giving us some sense of bullishness.  However, the [...]

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 [...]