The Greedy Trader Weekly Analysis
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- 9/10/2021 -
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Dow Jones (^DJI)

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Summary:
Weekly :Lane's Stochastic is overboughtBroken trend resistance line
Daily :The price has fallen below the Parabolic SARThe price is below the lower Bollinger BandLane's Stochastic is oversoldPrice has crossed below the 50 Day Moving Average
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It was the negative week for the Dow Jones (^DJI). During the week, the ^DJI dropped -761.37 points, or -2.15%, and closed at 34607.72 on Friday, September 10, 2021. It was the worst weekly loss since June 18, 2021. ^DJI was trading at average weekly trading volume.

Long-term trend: [See ^DJI long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 6440.08 and reached 35631.19 on August 16, 2021. ^DJI gained -29191.11 points, or -453.27%, in 649 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (23779.03) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 18213.65 and reached 35631.19 on August 16, 2021. ^DJI gained -17417.54 points, or -95.63%, in 73 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 33996.75 and resistance is at 36388.53. A Rising 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 Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See ^DJI weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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 link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since June 4, 2021. Use the following link to access a MACD help.

Short-term trend: [See ^DJI short-term trend chart]
A short-term downtrend had started on August 16, 2021 at 35631.19 and reached 34599.61 on September 10, 2021. ^DJI lost 1031.58 points, or 2.90%, in 25 days. Price is near the trend low.

Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.

The daily MACD line is below its signal line since August 17, 2021. This is an indication that the short-term trend is down.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. 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.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 35.99
Williams' Percentage Range (W%R) 66.10
Lane's Stochastic (%D-Slow) 17.22
Oversold
Greed/Fear Indicator (GFI) 29.05
Moving Average Converg./Diverg. (MACD) 66.19
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.74
Williams' Percentage Range (W%R) 28.90
Lane's Stochastic (%D-Slow) 83.98
Overbought
Greed/Fear Indicator (GFI) 69.21
Moving Average Converg./Diverg. (MACD) 1020.25
Trading Signals
Description Value Chart
Monthly Trendline Resistance 36388.53
Upper Bollinger Band 35644.41
Parabolic System 35463.14
Weekly Stochastic Crossing 35263.64
20 Day Moving Average 35236.93
50 Day Moving Average 35037.70
Daily Stochastic Crossing 34670.64
Lower Bollinger Band 34647.25
Price 34607.72
Monthly Trendline Support 33996.75
Yearly Trendline Resistance 31899.35
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 35631.19
High Date 08/16/2021
Low 34599.61
Low Date 09/10/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 26143.77
Low Date 10/30/2020
High 35631.19
High Date 08/16/2021
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 36388.53
Support 33996.75
Low 18213.65
Low Date 03/23/2020
High 35631.19
High Date 08/16/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 15370.33
Low Date 08/24/2015
High 35631.19
High Date 08/16/2021
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 31899.35
Support 23779.03
Low 6440.08
Low Date 03/09/2009
High 35631.19
High Date 08/16/2021
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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