The SPDR Dow Jones Industrial Average ETF
(NYSEARCA:DIA) is up around 150% from the 2009 lows. Since that low, the markets have rallied, almost non stop on the back of Federal Reserve monetary policy
. This policy has been to push interest rates to near zero and print trillions of Dollars. The market has become addicted. Based on yesterday's GDP number and the FOMC Policy Statement, the free, print money policy is coming to an end. In other words, the drugs will be stopping. The market is beginning to freak out.
The worst and most scary part of this is that the monthly chart of the SPDR Dow Jones Industrial Average ETF
(NYSEARCA:DIA) and the S&P 500
have topping tails that will officially be in the books today. These are extremely scary and bad signals for the market going forward.
Chief Market Strategist