Dow Jones Index daily chart comments :

Based on various technical indicators

1.parabolic SAR remains positive BUT the gap between the trigger and the index is closing (similar to the comments i made about Hang Seng Index) so the short term uptrend has been running out of steam the past few days

2.stochastics - formed lower highs recently on 4th sept when Dow Jones hit higher high (hmm….also similar pattern to HSI) indicating recent rebound momentum could be running out of steam

3.MACD - daily MACD line has crossed over the signal line since 23rd aug BUT remains below the zero line. Of the two signals, some traders consider zeroline cross over to be more reliable and signal line crossover.

4. Multiple moving averages(MMA) -
short term MMA remains well below long term MMA indicating that medium to longer term trend is still down

Based on the above indicators :
The dow jones index daily chart is showing near term mix signals but more biased towards the bearish side, indicating rebound momentum has been weakening in the past few days.

For US stock market technical analysis video comments dated 7th sept, click :

http://www.mojostock.com/forums/showthread.php?t=26989

Artilce by : Rooney Yong