top of page

Technical Review of Dow Jones Industrial Average (INDU)

Dow Jones Industrial Average (INDU) has now rebounded strongly from its March 2020 bottom and is now challenging major resistance at 25,582-26,059, coinciding with the top of the 2009 uptrend channel, 10-mo ma, and 30-mo ma. The ability to convincingly breakout here signals the next INDU rally to 27,580, and above this to 28,403-28,893, and then to 29,569 (2/12/20 all-time high). Key initial support rises to 24,765-25,097 (May 2020 breakout and the 50-day ma), and below this to 23,730-24,060 (5/18/20 gap up), 22,790-22,942 (late-Apr 2020 and May 2020 lows), and then to 21,272,21,712.5 (bottom of the 2009 uptrend channel and Dec 2018 low). The RRG study on INDU suggests there are a lot of rotations taking place within this blue-chip index. Not all of the stocks within this blue-chip index are buyable from a technical perspective and we recommend investors need to remain stock selective.

To view the entire report you can go to the website under Reports or click on the following:

26 views0 comments

Recent Posts

See All

Closing of the Newsletter

Dear clients, After four rewarding years, the time has come for me to close the Lee Technical Strategy Newsletter, effective today. I want to take this opportunity to let you know what a great honor a

Technical Review of the Top 25 NDX 100 Index Stocks

NASDAQ 100 Index (NDX) – NDX is a modified market capitalization-weighted index comprising 100 of the largest non-financial companies on the NASDAQ Composite Index (COMPQ). NDX is heavily weighted tow

bottom of page