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Archive
- 1/27/2012
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| | It was the first negative week after 3 consecutive positive weeks for the Dow Jones (^DJI). During the week, the ^DJI gave back -60.02 points, or -0.47%, and closed at 12660.46 on Friday, January 27, 2012. Weekly volume was -15% below average.
 Long-term trend: [See ^DJI long-term trend chart]
A long-term downtrend had started on October 11, 2007 at 14279.96 and reached 6440.08 on March 9, 2009. ^DJI lost 7839.88 points, or 54.90%, in 73 weeks. The chart has formed a Falling Channel chart pattern. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.
 Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term uptrend had started on March 9, 2009 at 6440.08 and reached 12928.45 on May 2, 2011. ^DJI gained -6488.37 points, or -100.75%, in 112 weeks. The chart has formed a Rising Wedge chart pattern. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See ^DJI weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since October 21, 2011. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
Short-term trend: [See ^DJI short-term trend chart]
A short-term uptrend had started on November 25, 2011 at 11231.56 and reached 12884.63 on January 26, 2012. ^DJI gained -1653.07 points, or -14.72%, in 62 days. The chart has formed a Rising Wedge chart pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.
The daily MACD line is above its signal line since December 21, 2011. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
A Parabolic SAR (stop and reversal) indicator (12641.91) comes close to the price (12660.46). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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