Dow Jones Bulls Lock Horns At Resistance Level: What's Next For Blue-Chip Gauge?
Portfolio Pulse from Piero Cingari
The Dow Jones Industrial Average (DJIA) has been unable to overcome a crucial technical resistance, causing nervousness among investors. Despite some improvements in key momentum indicators, a downward trend has persisted since late July. The DJIA's market breadth has decreased from 86% at the end of July to 40%, indicating increasing weakness within the constituent stocks. The DJIA is tracked by the Dow Jones Industrial Average ETF (NYSE:DIA).
August 28, 2023 | 9:08 pm
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NEGATIVE IMPACT
The Dow Jones Industrial Average ETF (DIA) may be impacted by the DJIA's struggle to overcome technical resistance and the decreasing market breadth.
The Dow Jones Industrial Average ETF (DIA) tracks the DJIA. As the DJIA struggles with technical resistance and shows signs of increasing weakness, this could negatively impact the DIA in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100