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:
Jul 21, 21 10:37 AM
Take a look at the various charts of the stock market for the month of July. Interesting to note that the uptrend is still intact.
Mar 23, 21 08:25 AM
This week let us take a look at the SPX and TSLA. See what we can learn from their charts.
Mar 19, 21 05:24 AM
In this week we will have a look at Bitcoin, ETN and MAT, SPX and QQQ and see what we can learn from its chart.
Mar 09, 21 08:33 AM
In this week's lesson, let's take a look at bitcoin and makita.
Mar 03, 21 09:48 AM
In this week we will take a look at BRX and KIM and see what we can learn from the charts.