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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
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Dots

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Thursday, January 11, 2018

Where's the Resistance on the Dow 30 Index?

* See UPDATE below...

Since the December 8, 2016 U.S. Presidential election, the Dow 30 Index has gained around 42.57%, as of 2:00 pm ET today (Thursday). It also crossed above a new all-time high of 25,500, as shown on the two Daily charts below.



The following Monthly chart shows that price is trading in between support (25,125) and resistance (26,702), namely two external Fibonacci retracement levels.

Of course, anything can happen in between these levels, but they may play an important role in the days/weeks ahead...ones to watch, especially 25,125.


P.S. The Dow made further gains this afternoon and closed up 205 points at 25,574, bringing gains since the election to 42.97%, as shown on the Monthly and Daily charts below.



* UPDATE January 12...

And, to close out the week, the Dow just kept on spiking ever higher, to close at a new high of 25,801.95...bringing its gains since the election to 44.24%.