Present and Probable Market Trend
18 Jan 2025
The Dow Jones Industrial Average and The Dow Jones Transportation average both established intermediate term bottoms this past week. Remember, the primary market direction for the stock market is predicated on both of these averages simultaneously being in a primary uptrend or primary downtrend. Primary means the longer term trend. Even though both indexes have established intermediate term bottoms this week, they trend is still confirmed as down. The action to watch for next is the establishment of intermediate term highs for both indexes. The nature of these highs will determine their effect on the long term primary trend of the stock market.
The global geopolitical situation is in flux and the market is showing this. Stock prices are based on supply and demand for their shares. The market is always looking forward and may be waiting for some obvious and some not so obvious things to clear up.
Charts courtesy of http://stockcharts.com
Charts courtesy of http://stockcharts.com
Disclaimer-All information shared in my posts is my personal viewpoint and shared for informational purposes only. This is not to be construed as investment advice. You alone know what is best for yourself and can make your own decisions accordingly.