The Dow Jones is reaching a support area, a price support area actually. And it is also touching the 50 MA. When an index reaches an area of price support that coincides with the rising 50 MA, it can be a powerful combination that can keep the index from dropping. So at least at the moment, we are looking for a bounce up. The shorter timeframes such as the 60 min has not given any trend change yet but we are going to monitor the Dow and the other 2 indexes for any change of trend in the smaller time frames that coincides with the support in the daily chart.
It is important to note that the small caps and midcaps are at important points and we do not want to see them drop below a longer term support. Let's have a look at what the charts are telling us.
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
Dec 03, 21 09:52 AM
Here are a list of stocks that have broke out or about to break out. Breakout stocks can often give us a good reward to risk ratio.
Dec 03, 21 07:22 AM
Here are a list of stocks that are at their 50 MA and 200 MA. The 50 day moving average and 200 day moving average can be a support area where stocks bounce off
Dec 03, 21 05:59 AM
How will the US stock market work in December? Will there be a rebound? Will the stock market continue to go higher?
Dec 01, 21 09:24 AM
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Nov 30, 21 09:11 AM
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