Stocks Holding DOW's back and pushing it up

V

viktor_k67

The past two weeks pushed the DJI and S&P 500 strongly up by breaking all historical highs. On many time-frames, because of the past 2-week strong up move, many technical indicators are strongly bullish.

Below you may see 10-year DJI volume chart (1 bar = 10 days).

20160718-dji-chart.png

source: http://www.marketvolume.com/charts/

To understand better whether DJI may move higher, we take a look at the stocks listed in the DOW index. Below you may see 30 charts of the DOW listed stocks divided in three groups.
 
9 long-term bullish stocks
Verizon (VZ)

20160718-vz-chart.png


The Travelers Company (TRW)

20160718-trv-chart.png


Coca-Cola (KO)

20160718-ko-chart.png


Johnson & Johnson (JNJ)

20160718-jnj-chart.png


Home Depot (HD)

20160718-hd-chart.png


General Electric (GE)

20160718-ge-chart.png


3M (MMM)

20160718-mmm-chart.png


Visa (V)

20160718-v-chart.png


United Health Group (UNH)

20160718-unh-chart.png
 
Summary


In summary, we have 9 strongly bullish Stocks, 11 recovering stocks and 10 weak stocks. As of now, most of these stocks either in short- or mid-term up-move and they are pushing the DJI index up. If 11 recovering stocks will continue their recovery further, then 2/3 of DOW stocks as a pushing force to continue pushing DOW to new highs. If not , we could be looking for another months of the side-way range trading.
 
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