timwest
Short

DOW JONES SPDR DIA DAILY FAILED UPTREND

AMEX:DIA   SPDR DOW JONES INDUSTRIAL AVERAGE ETF
160 5 7
The downtrend from the January high met all normal "trending" characteristics and guidelines.

The uptrend from the February low so far has failed the general trending guidelines and has failed to rally in price or in time that suggests that the market is NOT ACCUMULATED and rather is IN DISTRIBUTION at the current level.

The 163.18 level is key resistance and only if the market can climb above this 163.57 level will the uptrend be re-confirmed.

A healthy market will rally for 10 days from a 10-day accumulation. Time runs out today on the uptrend, which means that at the end of today if the market is below 163.18, it is wise to go short and place a stop above 165, while looking for a drop down to the 158 level (the last consolidation).

Tim 3/17/2014 10:18AM EST 162.39 last
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I like the strategic approach .
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timwest PRO RamsisCartagena
Thanks
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I like ur approach, but could please clarify more what are the blue numbers?
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timwest PRO Technician
Check out some of my other charts when you get a chance. I have more than a few posted. Just click on my profile and see my other charts.

The blue number is the count of how many bars are at one price level. So if you get a "4" it means 4-bars at one price. Once entirely below the 4-bars price zone, you get a 1 for the 1st bar, then expect a bottom at the end of the 4th bar.
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Yes sure I will. As usual, very informative content.
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