TRADING CENTER INDICATOR (TCI): TECHNICAL ANALYSIS ON DOW JONES INDUSTRIAL
Dow Jones Industrial closed on Friday the 16th of November at 12,588.31 points. The downtrend which started one month ago still continues. Dow was about 13,661 points in the middle of October 2012, so the drop since then is more than 1,000 points, so far. In order to estimate the duration of that downtrend market we are implementing the TCI Indicator on Dow Jones Industrial and here are some results.
TCI on Dow at a Glance:
- Dow Price: 12,588.31
- Short-Trend: ↓
- Mid-Trend: Possible Rebound, ↑
- Possible Turnaround Dates: 20th of November / 30th of November
TCI Indicator on Dow Jones
In the table below we may see some recent daily statistics concerning the Dow Industrial, and at the last column we may find the daily calculated price of TCI indicator. As we may easily observe, Dow Jones trade inside a clear downtrend channel. TCI indicator is found today at about -11.02 {based on the closing of Dow at 12,588 points}. Historically that level of TCI has given traders good returns of 5-10%.