Today I'm going to be looking into the Dow 30 Index. This index is home to some of the biggest and most valuable companies in the world.
Using our Trade Triangle technology, you can quickly see that out of the 30 stocks that make up this index, just three stocks remain in a bullish trend. Out of the remaining 27 stocks, 6 are in a trading range and 21 stocks are in downtrends.
With two-thirds of the stocks in this important index in downtrends, this index is casting a shadow over the general economy.
The 3 stocks that remain in uptrends are rather mundane companies that have been around a long time.
Here are the 3 stocks that are still bullish and I will be looking at in today's video:
These are not the new kids on the block. These stocks have been around for a minimum of 50 years and still represent great value in the marketplace.
I will also be looking at some of the dogs of the Dow. These stocks are in clear downtrends and I will analyze just how far they can go on the downside.
Those stocks are:
If two-thirds of the DOW is in a strong downtrend and only 3 stocks are in uptrends, is that enough to reverse the 21 stocks that are in downtrends? Conversely, will the 3 stocks that are in uptrends get dragged into downtrends?
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