Saturday, August 5, 2017

INDU Dow Industrials 10-Minute Chart; DOW PRINTS 22,000 FIRST TIME IN HISTORY

On Wednesday, 8/2/17, at the opening bell, the Dow Jones Industrials, INDU or DJI, print above 22,000 for the first time in history. Price oscillates above and below 22K on Wednesday but begins to elevate on Thursday, 8/3/17. In the afternoon on Thursday, the FBI Special counsel Mueller impanels a Grand Jury for the Russia investigations and stocks fall (two red circles).

The Dow quickly recovers gapping higher Friday morning on the jobs report. The blue ascending triangle is in play with a vertical side at about 40 points. An ascending triangle is bullish so the breakout from 22075 targets 22115. Price may want to come back for a back kiss of the triangle breakout line. The full moon peaks at 2:30 PM EST on Monday and stocks are typically bullish moving through the full moon.

The universal consensus on wall Street is bullish with many pundits already talking about Dow 23K. Every day is a party with the Federal Reserve and other central banker's thumbs on the scale. The all-time closing and intraday highs in the Dow Jones Industrials are both currently at 22092.81 (the Dow closed at the high on Friday). This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

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