Dow Jones Industrial Average candlestick chart

DOW could not hold the Monday breakout
Dow Jones Industrial Average could not hold above the breakout level.

Dow Jones Industrial Index Daily Chart courtesy of

Reference my post on Monday when the Dow Jones Industrial Index broke above major resistance to an all-time high.  At that time, I penciled in the new support level of 16,600. The important point from the above chart is that the breakout failed to hold and this was a significant breakout. The 16,600 level is back again to the resistance point and support is around the 50-day simple moving average of 16,400. Caution is advised as the near-term uptrend is over and taking some money off the table maybe prudent at this point. But, and there is always a but, the major uptrend is still in effect for the Dow as approximated by the 200-day simple moving average.

Dow Jones Industrial Average


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