Stock Indices: Dow Jones retreats from 2-month highs, dragged down by Caterpillar, Goldman Sachs and Exxon Mobil

On Tuesday Dow Jones Industrial Average traded within the range of 16,921.85-17,072.79. The benchmark closed at 16,963.21, falling 0.65% (110.74 points) on a daily basis. It has been the 13th drop in the past 26 trading days. The blue-chip gauge has trimmed its advance to 2.70% so far during the current month, after going up 0.30% in February.

Among the companies included in the benchmark, 21 posted a daily decline on Tuesday and 9 posted a daily gain. Shares of Caterpillar Inc (CAT) recorded the worst performance within the Dow on Tuesday, going down 4.07% to close at $71.73. It has been the 7th drop in the past 20 trading days and also the steepest one since January 25th. March 8th low of $71.52 per share has been the lowest price level since March 3rd, when a low of $69.39 per share was registered. The construction and mining equipment manufacturer has reduced its advance to 5.95% so far in March, after it surged 8.77% in February.

Goldman Sachs Group Inc (GS) was the second worst performer within the DJIA yesterday, going down 2.41%, to close at $151.60. It has been the 10th drop in the past 20 trading days, a second consecutive one and also the steepest one since February 23rd. March 8th low of $151.50 per share has been the lowest price level since March 1st, when a low of $150.68 per share was registered. Goldman Sachs has added 1.38% to its value so far during the current month, following three consecutive months of decline.

At the same time, the shares of Microsoft Corporation (MSFT) registered the most notable daily increase within the DJIA on March 8th, going up 1.22%, to close at $51.65, while marking their 11th gain in the past 20 trading days and also the sharpest one since March 1st. March 8th high of $52.13 per share has been the highest price level since March 4th, when a high of $52.45 per share was reached. Microsoft has risen 1.51% so far during the current month, following two consecutive months of decline. In February shares slumped 7.64%, or the most since January 2015.

McDonald`s Corporation (MCD) was the second best performer within the Dow on March 8th, appreciating 1.08%, to close at $118.42 per share. It has been the 11th gain in the past 20 trading days and also the sharpest one since March 1st. March 8th high of $119.08 per share has been the highest level since March 1st, when the McDonalds shares went up as high as $119.19. Additionally, the daily trading volume (6.24M) has been the highest since March 3rd. McDonalds has added 1.05% to its value so far in March, following a 5.32% drop in February. The latter has been the worst monthly performance since July 2014, when the shares depreciated 6.13%.

Daily and Weekly Pivot Levels

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

R1 – 16,977.04
R2 – 16,990.88
R3 (range resistance) – 17,004.72
R4 (range breakout) – 17,046.23

S1 – 16,949.37
S2 – 16,935.54
S3 (range support) – 16,921.70
S4 (range breakout) – 16,880.19

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

Central Pivot Point – 16,859.85
R1 – 17,209.30
R2 – 17,411.83
R3 – 17,761.28

S1 – 16,657.32
S2 – 16,307.87
S3 – 16,105.34