Markets – Macro – Technicals

$DJIA Magic

Who doesn’t like magic? In this case the ever reliable “save the 50 day moving average on every close” program that keeps the $DJIA out of trouble.

Today the $DJIA got closest to closing below it for the first time in 2017, but the magic never seizes to amaze:

But then it doesn’t surprise either:

Bulls appear fine as long as this support level continues to be saved. A close, especially a weekly close below however, opens the door for a move toward the 100MA.

All content is provided as information only and should not be taken as investment or trading advice. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise. For further details please refer to the disclaimer.


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