Stock Indices: Dow Jones retreats at close of trade ahead of Q1 earnings season

On Monday Dow Jones Industrial Average traded within the range of 17,556.76-17,731.18. The benchmark closed at 17,557.17, edging down 0.11% (19.79 points) on a daily basis. It has been the 21st drop in the past 49 trading days. The blue-chip gauge has fallen 0.72% so far in April, following two consecutive months of gains. In March it went up 7.08%.

Among the companies included in the benchmark, 19 posted a daily decline on Monday and 11 posted a daily gain. Shares of Nike Inc (NKE) recorded the worst performance within the Dow for a second straight trading session on April 11th, going down 2.52% to close at $57.92. It has been the 10th drop in the past 21 trading days, a third consecutive one and also the sharpest one since April 4th. April 11th low of $57.82 per share has been the lowest price level since February 19th, when a low of $57.63 a share was registered. Nike shares have fallen 5.78% so far during the current month, following four straight months of decline.

Pfizer Inc (PFE) was the second worst performer within the DJIA on April 11th, falling 1.88% to close at $31.89 per share. It has been the 10th drop in the past 20 trading days, a third consecutive one and also the sharpest one since February 4th. April 11th low of $31.87 per share has been the lowest price level since April 6th, when a low of $124.53 was recorded. Pfizer has trimmed its advance to 7.59% so far in April, following five consecutive months of decline.

At the same time, the shares of Goldman Sachs Group Inc (GS) registered the most notable daily increase within the DJIA on April 11th, going up 1.28%, to close at $152.20, while marking their 8th gain in the past 20 trading days. April 11th high of $153.90 per share has been the highest price level since April 7th, when a high of $154.03 was reached. Goldman Sachs has trimmed its slump to 3.04% so far during the current month, following a 4.98% surge in March.

United Technologies Corporation (UTX) was the second best performer within the Dow on Monday, advancing 0.81%, to close at $102.14. It has been the 13th gain in the past 20 trading days, a fourth consecutive one and also the sharpest one since March 29th. April 11th high of $102.93 per share has been the highest price level since July 21st 2015, when a high of $104,95 was registered. United Technologies has added 2.04% to its value so far in April, following two consecutive months of gains. In March the stock went up 3.60%.

Daily and Weekly Pivot Levels

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

R1 – 17,573.16
R2 – 17,589.15
R3 (range resistance) – 17,605.14
R4 (range breakout) – 17,653.10

S1 – 17,541.18
S2 – 17,525.19
S3 (range support) – 17,509.20
S4 (range breakout) – 17,461.24

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

Central Pivot Point – 17,622.61
R1 – 17,760.55
R2 – 17,943.93
R3 – 18,081.87

S1 – 17,439.23
S2 – 17,301.29
S3 – 17,117.91