Dow Jones Industrial Average (DJI)

DJI: Bullish patterns continue to support upside to 49,000 and 53,000

Upside breakouts from a March-June head and shoulders (H&S) bottom and a bigger November 2024-August 2025 bullish consolidation remain intact on the Dow Jones Industrial Average (DJI) and project upside to 49,000 (H&S target) and 53,000-53,400 (100% extension and bullish consolidation target).

Rising 13-, 26-, and 40-day moving averages from 47,392 to 46,685 reinforce this bullish trend, and Friday's low at 46,495 provides a key risk management level ahead of the late 2024-mid 2025 bullish consolidation breakout and retest zone at 45,452-45,073 (~45,000).

Chart 1: Dow Jones Industrial Average (DJI): Daily candlestick chart

DJI: Upside follow-through confirms Friday's bullish hammer

Similar to the S&P 500 and NASDAQ 100 (Nov 11 Charted Market Insights), the DJI has achieved upside follow-through that confirmed Friday's (11/7) bullish hammer (Nov 7 Straight from the Chart). This bullish hammer defended the rising 40- and 50-day moving averages.

Chart 2: Dow Jones Industrial Average (DJI): Daily candlestick chart