INDU has corrected -12.66% from the 1/5-2/24/22 decline. The 8.27% rally from 32,272.64 (2/24/22 low) nears key resistance at 34,977-35,165 ( 200-day ma and 61.8% retracement from Jan-Feb 2022 decline). A breakout above 35,165 signals a recovery to 35,824, 36,514-36,566, and 36,952.65 (1/5/22 all-time high).
RRG study suggests a selective market with half of INDU stocks in Leading and Improving Quadrants and the other half in Weakening and Lagging Quadrants. Unlike the past few years which have been dominated by indexed-based or passive investing, the market has shifted toward a true stock picker's market environment.
Enclosed is a technical review of the thirty Dow Jones Industrial stocks.
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