Dow Jones Industrial Average - May 2020
22 May 2020
Day Chart
- Trend : Short term sideways. Index is hovering between upper and lower gap.
- MA : Index now closed above all MA lines,
- Candle : Candle is doing inside bar for entire weeks. Still closed slightly above MA 5 as of Friday.
- Volume : Index closed with smaller volume
20 May 2020
Day Chart
- Trend : Short term sideways. Index is hovering just below the gap.
- MA : Index now closed above all MA lines, MA5,10 and 20 pointing upwards. There is a good chance index going to challenge the gap above.
- Candle : Chandle still above MA5. Index take a rest before next move.
- Volume : Index closed with smaller volume
19 May 2020
Day Chart
- Trend : Short term sideways. Index is supported by short term down trend line.
- MA : Index now closed above all MA lines, MA5,10 and 20 pointing upwards.
- Candle : Chandle still above MA5. Index take a rest before next move.
- Volume : Index closed with smaller volume
18 May 2020
Day Chart
- Trend : Changed from downtrend to sideways after a gap up that closed above previous high. Index also break the down trend line.
- MA : Index now closed above all MA lines, MA5,10 and 20 pointing upwards.
- Candle : Index closed with bullish candle and above previous high. The next challenge is the resistance of the gap above.
- Volume : Index closed with similar volume
15 May 2020
Day Chart
- Trend : Short term still down trend.
- MA : All MAs are pointing down, increasing resistance to index.
- Candle : Index opened low and closed high with bullish candle. However, candle still closed below MA5.
- Volume : Index closed with similar volume
14 May 2020
Day Chart
- Trend : Short term still down trend. Index need to go above MA5 and previous lower high to change the trend.
- MA : All MAs are pointing down, increasing resistance to index.
- Candle : Index closed above MA60 but below other MAs with a bullish candle.
- Volume : Index closed with similar volume
13 May 2020
Day Chart
- Trend : Index formed a lower low, downtrend confirmed. Next support is 22941.
- MA : All MAs are now above candle.
- Candle : Large bearish candle breaks nearest support and closed below MA60.
- Volume : 30% increase in volume. Selling pressure on index.
12 May 2020
Day Chart
- Trend : Index formed a lower high. Uptrend ended and changed to short term sideways.
- MA : All four MA lines getting closer, as well as bollinger bands.
- Candle : Large bearish candle after doji from previous days. If candle closed below nearest low, then index will change to downtrend.
- Volume : No significant high volume
11 May 2020
Day Chart
- Trend : Short term uptrend.
- MA : All four MA lines getting closer, as well as bollinger bands.
- Candle : Candle closed above all MAs with a doji. Index might or might not change direction.
- Volume : No significant high volume
Week Chart
- Trend : Index still above MA5 after rebound.
- MA : Index closed above MA5 and MA10 but below MA20. Both MA10 still downtrend, Index might need some times to go above MA20.
- Candle : Index closed with a bullish candle.
- Volume : No significant high volume.
8 May 2020
Day Chart
- Trend : Short term uptrend.
- MA : All four MA lines getting closer, as well as bollinger bands.
- Candle : Index closed above all MAs. with a bullish candle. Index has a good chance to challenge previous high and gap above.
- Volume : No significant high volume
7 May 2020
Day Chart
- Trend : Short term trend changed from sideways to uptrend.
- MA : All four MA lines getting closer, as well as bollinger bands.
- Candle : Index closed above MA5 and second leg created.
- Volume : No significant high volume
6 May 2020
Day Chart
- Trend : Short term still sideways.
- MA : All four MA lines getting closer, as well as bollinger bands. Index is now below all MAs.
- Candle : Index closed lower and now below MA20. If candle remains below MA20 for next few days, it will need more time to go back to uptrend.
- Volume : No significant high volume
5 May 2020
Day Chart
- Trend : Short term still sideways.
- MA : Index still closed above MA20. Now is still moving between MA20 and MA60. All four MA lines getting closer, as well as bollinger bands. Index will take a direction very soon.
- Candle : Index opened higher and closed lower.
- Volume : No significant high volume
4 May 2020
Day Chart
- Trend : Short term still sideways. To turn into uptrend, index need to creat a second leg and close above previous high at 24764.
- MA : Index closed above MA20. Now is still moving between MA20 and MA60. All four MA lines getting closer, as well as bollinger bands. Index will take a direction very soon.
- Candle : Index opened low and closed higher and supported by MA20. If later candle closes below MA20, it might need to take more time to bound back.
- Volume : No significant high volume.
1 May 2020
Day Chart
- Trend : Short term still sideways. To turn into uptrend, index need to close above previous high at 24764.
- MA : Index closed below MA10. Now is still moving between MA20 and MA60. All four MA lines getting closer.
- Candle : Index opened low and closed lower. Now supported by MA20. If later candle closes below MA20, it might need to take more time to bound back.
- Volume : No significant high volume.
Week Chart
- Trend : Index still above MA5 after rebound.
- MA : Index closed above MA5 and MA10. Both MA10 and MA20 still downtrend,
- Candle : Index closed lower with a shooting star, a trend reversal signal. If index close below MA5 in next one or two weeks and then bound back, it will form second leg.
- Volume : No significant high volume.
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