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US30 DJI Technical Overview and Selling Opportunity

US30 DJI Technical Overview and Selling Opportunity

Before the technical overview, let us take a look at the stocks in DJI

What are the stocks in the Dow Jones Industrial Average – US30 –

Here are the 30 stocks that make up the Dow Jones Industrial Average today.

Company       and   Year Added
3M* (NYSE: MMM) 1976
American Express (NYSE: AXP) 1982
Apple (NASDAQ: AAPL) 2015
Boeing (NYSE: BA) 1987
Caterpillar (NYSE: CAT) 1991
Chevron* (NYSE: CVX) 2008
Cisco (NASDAQ: CSCO) 2009
Coca-Cola* (NYSE: KO) 1987
DowDuPont (NYSE: DWDP) 2017
The Walt Disney Company (NYSE: DIS) 1991
ExxonMobil* (NYSE: XOM) 1928
General Electric (NYSE: GE) 1907
Goldman Sachs (NYSE: GS) 2013
The Home Depot (NYSE: HD) 1999
IBM (NYSE: IBM) 1979
Intel (NASDAQ: INTC) 1999
Johnson & Johnson* (NYSE: JNJ) 1997
JPMorgan Chase (NYSE: JPM) 1991
McDonald’s* (NYSE: MCD) 1985
Merck (NYSE: MRK) 1979
Microsoft (NASDAQ: MSFT) 1999
Nike (NYSE: NKE) 2013
Pfizer (NYSE: PFE) 2004
Procter & Gamble* (NYSE: PG) 1932
Travellers Companies, Inc. (NYSE: TRV) 2009
United Technologies (NYSE: UTX) 1939
UnitedHealth (NYSE: UNH) 2012
Verizon (NYSE: VZ) 2004
Visa (NYSE: V) 2013
Wal-Mart (NYSE: WMT) 1997

After ultra-dovish FED, one could expect a mini-rally on stocks. But all we saw is a decline in global stock markets.      ( SP500, DJI, DAX … All fall )

Each of them has their own story. But the latest declines may have some common reasons as well.

  • My view is clear. The fear of a global recession. The new FED stance gave a hint. The US Dollar is still the safe haven and the investors cannot find an alternative. ( My alternative is Palladium, Gold – Soon- and JPY – needs a bit of time- )

In this trade setup; I won’t bother you with the details.

Lately; I am selling the raises of the indices with some fundamental reasons.

Technically H4 Chart:

DJI rejected 26.171 resistance.

DJI ended the week below EMA 50, 100 and 200 H4 Chart. Golden Cut is in progress.

Breakout of the rising wedge will accelerate the bearish move.

I have two short entry levels.

Short at the breakout of 25.400 or Short at the potential pullback towards 25.680.

Stop Loss: 25.900

Near Term Target 1: 25.195

Near Term Target 2: 24.950

Ultimate Target of the wedge pattern:  24.212

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

DJI: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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