Dow Jones finds support at the 200 dma ( but )

Dow found support at the 200 dma but look at the negative divergence.

 

I heard, but can't confirm they are going to change the name to the Down Jones.

 

Support (and resistance) is where price previously traded. Not some arbitrary stoopid squiggly line.

 

Wow ! How insightful.

 

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I like the way moving averages underline or overline price;
never could really find a profitable use for RSI+ MACD is simply too much of a distraction off price for me.[I like an upward weekly parabolic stop + reverse, but not enough to buy UDOW,now]

 

Confirmation bias is strong here.

 

The 200 dma support in the dow is now clearly broken ! This is dangerous!

 

Levels, even arbitrary ones, need to be confirmed by following through next day.

 

You never know, look at December. It broke through the 200 dma and regained it the following day, the only thing I dont like is this is the second time it broke through it.

 

Like I said actual price traded. Not an average of one somewhere, up or down, here or there. Notice squiggly hasn't even turn down yet. LOL prolly will in another week or two long after the fact like MA's always do.