timwest

SPDR DOW 30 ETF DIA IS BOTH AN UPTREND & DOWNTREND

AMEX:DIA   SPDR DOW JONES INDUSTRIAL AVERAGE ETF
174 0 4
SPDR DOW 30 ETF DIA             BOTH UPTREND & DOWNTREND

Wednesday 3/19/2014

There are two trends in place since the market is above the 10-day mode at 161.50. The 10-day mode is now 13-days. Why? Because 3 more days have accumulated at the 161.50 level and now the market has disconnected from 161.50 by trading, on Tuesday, completely above the 13-day mode.

If you currently have no position - You can go long here at 163.45 with a stop and reverse at 161.50 so that you go short at 161.50.

If you are already short: The downtrend is also in place but today is the last day of the downtrend time. The market is also below the two-mode areas labeled above at 164 and 163.6-163.18.

This is how a market "balances out" after a period of strong trending action. A market isn't always going to "trend" and allow us to pull endless cash out of it.

Let's hope for more big trends but I am fine if there isn't one for awhile.

Tim 10:36AM EST 3/19/2014
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