— Mike Zaccardi, CFA, CMT (@MikeZaccardi) October 28, 2022
Today’s Chart of the Day was shared by Mike Zaccardi (@MikeZaccardi). The Dow closed higher for the sixth consecutive day today and the fourth consecutive week. It gained +5.72% this week, marking its 6th best week in the past decade. Mike points out that it reclaimed its downward-sloping 200-day moving average today. It’s been rejected at the 200-day moving average four times already this year. Will the fifth time be the charm?