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OptionsRising

Dow Jones Swing Puts at Weekly MA Resistance

Short
Dow Jones Industrial Average Index (TVC:DJI)  
OptionsRising Updated   
TVC:DJI   Dow Jones Industrial Average Index
Technical Indicators Trend Analysis
6
3
indicator trendanalysis
The weekly chart shows that price has come up against 20 and 50sma. RSI on daily chart could be a short term double top before more downside, shown in white box.

There were many good swing put setups today.
Comment:
An update to the idea - so far 24 March candle is an inside bar and it is possible the markets try higher again. DIA could retest recent high or push up to the daily 200sma. I might buy some puts near 346, but I will definitely have a stop loss in place. RSI is holding over 50 so I would like to see it turn lower by Monday at latest.
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