DOW: Down only slightly as losses hit the tech sector more
Earnings from Boeing and Microsoft up next, though expectations are for the Nasdaq to react more.
The latest from Wall Street:
Another relatively range-bound session for the Dow, and where this time the Nasdaq underperformed on news from Texas Instruments that hit the tech sector harder. That meant that tech stocks in this index (less in terms of overall exposure) lagged, and where energy outperformed as oil prices rose off the lows. is up next today in terms of earnings, as is Microsoft.
Dow Technical analysis, overview, strategies, and levels
From a technical standpoint, it's done little to shift its main technical indicators where most remain neutral, but with its price still above its main long-term moving averages and its Average Directional Index (ADX) showing an ongoing propensity to trend.
| Current Technical Overview | Consolidation - Positive Bias |
| Technical Overview Conformist Strategies | Sell 1st Resistance After Reversal, Buy 1st Support At/Before Price |
| Technical Overview Contrarian Strategies | Buy 1st Resistance Upon Breakout From Below, Sell 1st Support Upon Breakout From Above |
| S/L for 2nd Resistance | 27208 |
| 2nd Resistance | 27113 |
| S/L for 1st Resistance | 27018 |
| 1st Resistance | 26923 |
| Relative Starting Point | 26734 |
| 1st Support | 26544 |
| S/L for 1st Support | 26449 |
| 2nd Support | 26354 |
| S/L for 2nd Support | 26259 |
IG client and CoT sentiment for the Dow
In sentiment, Commitment of Trader (CoT) bias while dropping slightly last week remains at extreme long levels at 85%, while retail bias is opposite and at a heavy short at 65%.
Dow chart with retail and institutional sentiment
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