Friday’s Technical Outlook For DJIA (.DIJ)
Thursday, the PBOC hinted at more stimulus and other monetary tools to aid growth if required, and dovish US Fed speak boosted the global markets Thursday.
DJIA (NYSEArca:DIA) finished at 16697.29, +1.29% the upper end of my range of 15500-16700, giving us a look to both the weekly and monthly candles.
Extending this Bullish momentum could run North to 17000 if 16450 remain intact as the near term support.
Waiting for the Noise to subside and a clear signal to emerge.
|WBR Analysis for DIA:||Overall||Short||Intermediate||Long|
|Neutral (0.02)||Neutral (0.14)||Neutral (-0.02)||Neutral (-0.06)|
The DJIA or simply the Dow, is a stock market index, and one of several indices created by Wall Street Journal editor and Dow Jones & Company co-founder Charles Dow.
The DJIA was 1st calculated on 26 May 1896.
Currently the DJIA is owned by S&P Dow Jones Indices, which is majority owned by McGraw-Hill Financial, it is the most notable of the Dow Averages, of which the 1st (non-industrial) was 1st published on 16 February 1885.
The averages are named after Mr. Dow and one of his business associates, statistician Edward Jones.
It is an index that shows how 30 large publicly owned companies based in the United States have traded during a standard trading session in the stock market.
The Stochastic Oscillator
The theory behind this indicator is that in an upward-trending market, prices tend to close near their high, and during a downward-trending market, prices tend to close near their low. Transaction signals occur when the %K crosses through a 3-period moving average called the “%D”