Technical Analysis: Uptrend over for DJIA

DJIA unable to break above the trendline
The current uptrend is over for the Dow Jones Industrial Average. It will either move into a consolidation zone or correct in the range of 10%

DJIA Daily Chart

The uptrend that started in October is over but this does not mean the index will suddenly go into a downtrend. There are three options for a trend: up, down and sideways. And there are three time periods for a trend: major, intermediate and near-term. The #3 is a ubiquitous number in technical analysis.

Reference the last trendline analysis for the Dow Jones Industrial Average.

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Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from which I recommend and have used for fifteen years. The author of this article may hold long or short positions in the featured stock or index.

© 2012

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