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:
May 05, 22 10:24 AM
What is the market doing and what is it likely to do?
Apr 27, 22 09:01 AM
As we enter April, will we continue to move higher or will there be a correction coming?
Apr 13, 22 11:46 PM
Apple is one of those stocks that we should look at almost every day. The reasons is because it is a component of the Dow Jones, the S&P 500 and the Nasdaq.
Apr 12, 22 09:38 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
Apr 12, 22 09:34 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.