Stock Indices: Dow Jones breaks a seven-day string of gains as risk appetite eases after bombings in Brussels

On Tuesday Dow Jones Industrial Average traded within the range of 17,540.42-17,648.94. The benchmark closed at 17,582.57, edging down 0.23% (41.30 points) on a daily basis. It has been the 15th drop in the past 36 trading days. The daily high has been the highest level since December 30th 2015, when the Dow went up as high as 17,714.13. The blue-chip gauge has trimmed its advance to 6.47% so far during the current month, following a 0.30% gain in February.

Equities lost their appeal to market players yesterday following the acts of terror in Brussels. On Tuesday morning explosions shattered the departure hall of the city’s airport, as at least 26 people lost their lives and 35 others were injured. Moments later, another blast occurred at a metro station in the city.

Among the companies included in the benchmark, 18 posted a daily decline on Tuesday and 12 posted a daily gain. Shares of Goldman Sachs Group Inc (GS) recorded the worst performance within the Dow on March 22nd, going down 1.34% to close at $154.20. It has been the 11th drop in the past 21 trading days, a second consecutive one and also the steepest one since March 8th. March 22nd low of $153.36 per share has been the lowest price level since March 17th, when a low of $148.75 was recorded. Goldman Sachs shares have trimmed their advance to 3.12% so far in March, following three consecutive months of decline.

Visa Inc (V) was the second worst performer within the DJIA yesterday, depreciating 1.10% to close at $72.96 per share. It has been the 13th drop in the past 21 trading days, a second consecutive one and also the sharpest one since March 8th. March 22nd low of $72.93 per share has been the lowest price level since March 17th, when a low of $72.17 was recorded. Visa has cut its advance to 0.79% so far in March, following three consecutive months of decline. The stock lost 2.82% in February.

At the same time, the shares of Pfizer Inc (PFE) registered the most notable daily increase within the DJIA on March 22nd, going up 1.03%, to close at $30.38, while marking their 10th gain in the past 21 trading days and also a fourth consecutive one. March 22nd high of $30.56 per share has been the highest price level since February 26th, when a high of $30.90 per share was reached. The health care product manufacturer has added 2.39% to its value so far in March, following four successive months of decline. In February the stock tumbled 2.69%.

UnitedHealth Group Incorporated (UNH) was the second best performer within the Dow on Tuesday, appreciating 1.01%, to close at $128.02. It has been the 11th gain in the past 21 trading days and also a third consecutive one. March 22nd high of $128.81 per share has been the highest price level in at least 1 year. UnitedHealth has added 7.49% to its value so far during the current month, following a 3.42% gain in February.

Daily and Weekly Pivot Levels

By employing the Camarilla calculation method, the Wednesday pivot levels for DJIA are presented as follows:

R1 – 17,592.52
R2 – 17,602.47
R3 (range resistance) – 17,612.41
R4 (range breakout) – 17,642.26

S1 – 17,572.62
S2 – 17,562.67
S3 (range support) – 17,552.73
S4 (range breakout) – 17,522.88

By using the traditional method of calculation, the weekly pivot levels for DJIA are presented as follows:

Central Pivot Point – 17,447.74
R1 – 17,775.14
R2 – 17,947.97
R3 – 18,275.37

S1 – 17,274.91
S2 – 16,947.51
S3 – 16,774.68