Dow Jones Struggles Beneath 50DMA Resistance: Are Bears Taking Control?
Portfolio Pulse from Piero Cingari
The Dow Jones Industrial Average, closely tracked by the SPDR Dow Jones Industrial Average ETF (NYSE:DIA), is struggling below its 50-day moving average, indicating a potential bearish trend. The index has retreated by 3.4% since its peak on August 1. Momentum indicators such as the 14-day Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) signal a potential trend reversal.
August 21, 2023 | 8:36 pm
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The SPDR Dow Jones Industrial Average ETF (DIA) could be impacted by the bearish trend indicated by the Dow Jones Industrial Average's struggle below its 50-day moving average.
The Dow Jones Industrial Average is a key indicator of the overall health of the US stock market. As the SPDR Dow Jones Industrial Average ETF (DIA) closely tracks this index, any bearish trend in the Dow Jones could negatively impact the ETF. The index's struggle below its 50-day moving average, along with signals from momentum indicators, suggest a potential bearish trend.
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