This post was originally published on this site

Dow Jones Industrial Average Daily Chart.

The hit all-time highs last month. Since then it has been consolidating its gains. More importantly, the index broke the ascending trend line from the COVID lows back in June. However, the index didn’t turn bearish at that point. It grinded higher and consolidated all summer.

Today, the index is parked on another ascending trend line since February 2021. Arguably it is this year’s “trend.” We feel it is important to start monitoring for near-term weakness, especially as the RSI points lower as it has been divergent since the spring. 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.