News 
Market Data 
Discover
Replies to post #27034 on Market Direction and Stock Trends
01/26/19 2:35 PM
OUR ANALYTICAL OUTLOOK AS OF THE CLOSE OF Fri. Jan. 25, 2019: Dow Jones Industrials closed today at 2473720 and is trading up about 6.04% for the year from last year's closing of 2332746. While the historical perspective in the Dow Jones Industrials included a rally from 1950 moving into 2018, the market has pulled back for the last year. The last Yearly Reversal to be elected was a Bullish at the closed of 2012 which signalled the rally would continue into 2018. However, the market has been unable to exceed that level intraday since then.
On a broader standpoint, this market remains in a postive posture on the yearly level and still positive of the quarterly level of our indicating models, it is clearly weaker. This implies that the high established back in 2018 still remains important resistance. Immediately, it remains in a postive position on the weekly level but negative on the monthly level at this moment. Immediately, this market has been rising for 9 years going into 2019 suggesting that this has been a bull market trend which has been confirmed by electing all of our model's long-term Bullish Reversals from the key low.
The historical major high took place here in 2018 and we have so far this year remained trading within last year's range in a consolidating pattern.
Meanwhile, our technical resistance stands at 2818645 and it will require a closing above this level to signal a breakout of the upside is unfolding. Nevertheless, our technical support lies at 1881635 which is still holding at this time. At this moment, the market remains between these two projections leaving it neutral on a technical basis.
Focusing on our timing models, it is possible to see a turning point come in Dow Jones Industrials. Remember to stay on point given this possible development ahead. The last cyclical event was a high established back during October 2018. Normally, this implies that the next turning point should be a low. However, the market has been neutral for right now so caution is advisable. Watch the short-term trading levels for a hint of the next directional move into that target time frame. Last month produced a low at 2171253 but closed on the weak side and so far, we are trading neutral within last month's trading range of 2598021 to 2171253. We need to breakout of this range to confirm the direction. Therefore, a close above will be bullish and a close below will warn of a possible decline.
Some caution is necessary since the last high 2695181 was important given we did obtain two sell signals from that event established during October 2018. Critical support still underlies this market at 2160033 and a break of that level on a monthly closing basis would warn of a further decline ahead becomes possible. Nevertheless, at this time, the market is still weak. Taking a broader view, this market is in a downward trend on all our indicators looking at the monthly level. Eyeing the direction of this trend, we had been moving down for-820 months. Subsequently, the market has consolidated for the past 822 sessions. The last high on the monthly level was 2695181, which was created during October 2018. The previous monthly level low was 1537033, which formed during August 2015. However, we still remain below key support and key resistance now stands at 2407756 above the market.
