Alarming Sign in Dow Jones..!
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The DJIA is the second oldest U.S. market index; the first was the Dow Jones Transportation Average (DJTA).1 The DJIA was designed to serve as a proxy for the health of the broader U.S. economy. Often referred to simply as "the Dow," the DJIA is one of the most-watched stock market indexes in the world. While the Dow includes a range of companies, all can be described as blue-chip companies with consistently stable earnings.
Dow Index Components
The Dow is often re-evaluated to replace companies that no longer meet the listing criteria with those that do. By 1928, the index had grown to 30 components. Its composition has changed many times since then.
On Aug. 24, 2020, Salesforce, Amgen, and Honeywell were added to the Dow, replacing ExxonMobil, Pfizer, and Raytheon Technologies.
Limitations of the DJIA
Many critics of the Dow argue that it does not significantly represent the state of the U.S. economy as it consists of only 30 large-cap U.S. companies. They believe the number of companies is too small and it neglects companies of different sizes. Many critics believe the S&P 500 is a better representation of the economy as it includes significantly more companies, 500 versus 30. (Investopedia)
What Are the Three Black Crows?
The black crow pattern consists of three consecutive long-bodied candlesticks that have opened within the real body of the previous candle and closed lower than the previous candle. Often, traders use this indicator in conjunction with other technical indicators or chart patterns as confirmation of a reversal.
This may become more significant when you know:
This pattern has happened in the weekly chart and, DJI experienced the fastest rally in its history in the last 85 weeks:
Here is the list of 30 Dow Jones Components:
https://www.tradingview.com/watchlists/44605134/
Conclusion:
We should consider 36565 as the most important resistance! moving between 36565-33500 could be the most probable case in the coming weeks!
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
Reference article:
https://www.investopedia.com/terms/t/three_black_crows.asp
Dow Index Components
The Dow is often re-evaluated to replace companies that no longer meet the listing criteria with those that do. By 1928, the index had grown to 30 components. Its composition has changed many times since then.
On Aug. 24, 2020, Salesforce, Amgen, and Honeywell were added to the Dow, replacing ExxonMobil, Pfizer, and Raytheon Technologies.
Limitations of the DJIA
Many critics of the Dow argue that it does not significantly represent the state of the U.S. economy as it consists of only 30 large-cap U.S. companies. They believe the number of companies is too small and it neglects companies of different sizes. Many critics believe the S&P 500 is a better representation of the economy as it includes significantly more companies, 500 versus 30. (Investopedia)
What Are the Three Black Crows?
The black crow pattern consists of three consecutive long-bodied candlesticks that have opened within the real body of the previous candle and closed lower than the previous candle. Often, traders use this indicator in conjunction with other technical indicators or chart patterns as confirmation of a reversal.
This may become more significant when you know:
This pattern has happened in the weekly chart and, DJI experienced the fastest rally in its history in the last 85 weeks:
Here is the list of 30 Dow Jones Components:
https://www.tradingview.com/watchlists/44605134/
Conclusion:
We should consider 36565 as the most important resistance! moving between 36565-33500 could be the most probable case in the coming weeks!
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
Reference article:
https://www.investopedia.com/terms/t/three_black_crows.asp
註釋
29 out of 30 Stocks of Dow Jones trading at lower prices than yesterday's close!only exception: AAPL
註釋
I said it is an alarming sign!
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