The major indexes are currently consolidating. This is healthy especially after a nice bull run. As long as Dow Jones stays above the 21000 area, the bull market will continue. Once the old highs in the Dow Jones has been overcome, they will now act as strong support which will keep the stock market from having a drastic fall. There is ample support in the 21080 area and the 21000 area is also a very strong support. Some sideways movement is beneficial to the Dow and the other indexes.
Currently I do not see any big weaknesses in the indexes that would warrant us to be careful of a big fall. The market is healthy and any sideways movement or correction is welcomed as long as the support below holds. Let us take a look at some charts below to aid us in our analysis.
Charts with the Freestockcharts.com label are courtesy of Freestockcharts.com
Charts with the investing.com logo are courtesy of Investing.com powered by Trading View
Here is a summary of what the charts above are telling us:
Oct 19, 21 08:25 PM
A combination of technical setups help to propel AMD higher. When it hit the 200 MA, it bounce up and shot up to $122.
Oct 19, 21 11:28 AM
Are the markets in an uptrend or downtrend? Where are the support and resistance areas? Stock market analysis for October 2021.
Oct 19, 21 01:01 AM
After correcting to the 50 day moving average, Alcoa was able to find support and rise to $57 in less than two months.
Oct 18, 21 12:24 AM
Technical analysis of Visa stock. A look at its trends and support and resistance.
Oct 17, 21 10:38 PM
Analysis of Bitcoin's chart. Is it in an uptrend or downtrend and where is the support and resistance.