The DOW JONES Industrial Average Index (DJIA, .DJI) for Monday, 7/25/2016 (d-w-m)

 

  Friday’s close, the 15th trading day in July,  saw every sector up except Basic Materials, and Basic Materials was only off by -0.06 percent.  For the Bulls, is was a slow and steady climb for stocks and the indices with profit taking pullbacks that only served to bring buyers back in.  Profit taking by traders and investors in the last twenty minutes, and during after hours trading, could set up Monday, depending on earnings reports and global current events, for another green day.  Next week is also the last five trading days in July 2016.
  Doom and gloom articles warn the clock is ticking down to DJIA 5500Seriously?

  “Dow Theory”

  In examining the “Dow Theory”, we learn Mr. Charles Dow developed two  US market averages in 1897.  The first Dow Jones Industrial Average only contained 12 “industrial” stocks. The second, the Dow Jones Transportation Average contained 20 “transportation” stocks.  Based on articles written by Mr. Dow and published by the Wall Street Journal in 1902-1905, Mr. Dow thought of using the US markets’ trend as a way to monitor the US economy for general business conditions.  That is, and will always be, part one of my analysis.  Current analysts, ignore part one, in favor of analyzing market trends, my part 2, to predict, or project, stock prices.  In my humble opinion, every “Dow Theory” analyst that ignores Part 1, probably isn’t going to get Part 2 right. 

DOW JONES Industrial Average Index (DJIA, .DJI)

  Analysis of Daily, Weekly, and Monthly (d-w-m) Chart activity through Friday’s (7/22/2016) DJIA close at   18,570.8496.
The current DJIA trend is up and all orders on the long side may be considered.  The current market price activity is Strongly Bullish and suggests favorable trade opportunities on the long side.  If already holding long positions, look to take partial profits on any retracement to 18,259.12.   Investors and traders with remaining long positions, after profit taking, should consider placing capital conserving stops in the region of 17,816.65.   Be prepared for a potential short term price pull back to the 18,387.80 area.
   Suggested placement of capital conserving stops:
If Long, exit all contracts at … 17,713.45
If Short, exit all contracts at … 18,622.01
Below you will find the DJIA Index Support and Resistance for Monday, 7/25/2016 as calculated from the changes in Index points through Friday, 7/22/2016’s close.
    Related for Monday:
     ————————
djia 20160722d
  ————————
  Chart #1 (above, EOD, daily)  The DOW JONES INDU AVE (DJIA, .DJI) O-H-L-C Pivot PointSupportResistance DAILY chart    Note beginning of the  “the Claw”  formation in the above daily  chart …
  • For 7/22/2016 the closing price was 18,570.8496.
  • Overall, the bias in prices is: Upwards.
    Short term: Prices are moving.
    Intermediate term: Prices are trending.
  • Note (1): this chart shows extraordinary price action to the upside.
    Note (2): prices are vulnerable to a correction towards 18,040.47.
  • The upper projected  target is: 19,032.45.
  • The lower  projected target is: 18,143.63.
  • The projected closing price is: 18,588.04. 
:: Please Note:   ALL projections are for reference only as they can be easily exceeded, up or down, by Mr. & Ms. Fickle Markets.   O-H-L-C = Open, High, Low, and Close.   (d-w-m) =  Daily, Weekly, and Monthly.
( 1.d) For the DJIA (INDEX DJX: .DJI) (ETF: DIA)
Closed 7/22 up  @  18,570.85  +53.62  (+0.29%)
:: Closed   (above 7/22 PP)  (above 7/25 PP)
  •   :: Pivot point (PP)   18544.58
  •   Support (s1)    18517.86       Support (s2)   18464.87
  •   Resistance (r1)   18597.57   Resistance (r2)   18624.29
  •   Simple Moving Average (Close 50):    17892.04       (uptrend)
  •   52 week performance   +4.73%    YTD performance  +6.58%

 

djia 20160722w
  ————————
Chart #2 (above, EOD, weekly)  The DOW JONES INDU AVE (DJIA, .DJI) O-H-L-C Pivot Point-Support-Resistance WEEKLY chart   Note the Head and Shoulders , the neckline, and “the Claw”, formations in the above chart …
  • For 7/22/2016 the closing price was 18,570.85.
  • Overall, the bias in prices is: Upwards.
  • Short term: Prices are moving.
  • Intermediate term: Prices are trending.
  • Note (1): this chart shows extraordinary price action to the upside.
    Note (2): prices are vulnerable to a correction towards 17,262.94.
  • The upper projected  target is: 19,690.15.
  • The lower  projected target is: 17,499.45.
  • The projected closing price is: 18,594.80. 

:: Please Note:   ALL projections are for reference only as they can be easily exceeded, up or down, by Mr. & Ms. Fickle Markets.

( 1.w) For the DJIA (INDEX DJX: .DJI) (ETF: DIA)
Closed week 7/22 up  @  18,570.85  +54.30  (+0.29%)
:: Closed   (above 7/22 PP)  (above 7/25 PP)
  •   :: Pivot point (PP)   18544.18
  •   Support (s1)  18486.35       Support (s2)   18401.84
  •   Resistance (r1)   18638.69   Resistance (r2)   18706.52
  •   Simple Moving Average (Close 50):    17259.28       (uptrend)
  •   Simple Moving Average (Close 200):    16361.15       (uptrend)
djia 20160722m
  ————————
Chart #3 (above, EOD, monthly)  The DOW JONES INDU AVE (DJIA, .DJI) O-H-L-C Pivot Point-Support-Resistance MONTHLY chart    Note the Head and Shoulders and the neckline formations in the above monthly  chart …
  • For 7/22/2016 the closing price was 18,570.8496.
  • Overall, the bias in prices is: Upwards.
  • Short term: Prices are moving.
  • Intermediate term: Prices are trending.
  • Note (1): this chart shows extraordinary price action to the upside.
  • The upper projected  target is: 20,173.54.
  • The lower  projected target is: 17,215.26.
  • The projected closing price is: 18,694.40. 
:: Please Note:   ALL projections are for reference only as they can be easily exceeded, up or down, by Mr. & Ms. Fickle Markets.
( 1.m) For the DJIA (INDEX DJX: .DJI) (ETF: DIA)
Closed intra-month 7/22 up  @  18,570.85  +53.62  (+0.29%)
:: Closed   (above 7/22 PP)  (above 7/25 PP)
  •   :: Pivot point (PP)   18302.10
  •   Support (s1)  17982.20       Support (s2)   17393.54
  •   Resistance (r1)   18890.76   Resistance (r2)   19210.66
  •   Simple Moving Average (Close 50):    16151.69       (uptrend)
  •   Simple Moving Average (Close 200):   12058.57       (uptrend)

IV.  Index “projected” Highs and Lows for Monday, 7/25/2016

Index,  :: Projected High,  Projected Low
DJI Avg   …. 18610.93  …  18531.22

 V.  Index: 52week High,  52week Low, (Close 12/31/15)

  • DJI Avg   ..  18622.01 ..  15370.33 .. (17425.03)  n/c
  •    —     —     —     —     —     —
  •   n/c* =no change  c-* =changed lower  c+* =changed higher

-–  Monday, 7/25/2016   thru    Friday 7/29/2016  ——

 

 

 

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