Weekly Charts For The Major Averages End The First Quarter On A Positive Note

The Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), Nasdaq Composite (IXIC), Dow Jones Transport Average (DJT) and Russell 2000 Index (RUT) have positive weekly charts with warnings on their daily charts.

The Dow Jones Industrial Average (35,228.81 at the March 30 close) is trying to hold its 200-day simple moving average 34,993.61. Its 50-day simple moving average is 34,344.28. The weekly chart is positive with its five-week modified moving average at 34,559.79. The average is between its semiannual and annual pivots at 33,989 and 35,618, respectively. The 200-week simple moving average or “reversion to the mean” is 28,900.62.

The Weekly Chart for DJI

The S&P 500 Index (SPX) (4,602.45 at the March 30 close) is well above its 200-day simple moving average at 4,484.33. The weekly chart is positive with the five-week modified moving average at 4,466.12. The average is above its annual and semiannual pivots at 4,383 and 4,125, respectively. The 200-week simple moving average or reversion to the mean is 3,430.66.

The Weekly Chart for SPX

The Nasdaq Composite (IXIC) (14,442.28 at the March 30 close) is below its 200-day simple moving average at 14,730.33. The weekly chart is positive with the five-week modified moving average at 13,959.33. The index is above its annual and semiannual pivots at 13,915 and 14,004, respectively. The 200-week simple moving average or reversion to the mean is 10,552.97.

The Weekly Chart for IXIC

The Dow Jones Transport Average (DJT) (16,546.85 at the March 30 close) is well above its 200-day simple moving average at 15,356.03. The weekly chart is positive with the five-week modified moving average at 15,875.26. The average is well above its annual pivot at 15,230 and is well above its semiannual value level at 13,229. The 200-week simple moving average or reversion to the mean is 11,910.34.

The Weekly Chart for DJT

The Russell 2000 Index (RUT) (2,091.07 at the March 30 close) ,989) is below its 200-day simple moving average at 2,194.80. The weekly chart is positive with the five-week modified moving average at 2,061.12. The index is above its semiannual pivot at 1,971 and is just below its annual pivot at 2,106. The 200-week simple moving average, or reversion to the mean, is 1,765.69.

The Weekly Chart for RUT