The chart is that of the DIA .This chart was telling me that the market was set for the decline right into the VIX cycle PEAK due 4/15/4/17 I have now moved to a bullish view that the first leg down is ending NOW and that Both wave count point to a rally to start from today and I have moved back into a 50 % net long CALLS next cycle turn is may 6th
Statistically throughout history, on average, stocks drop by at least 10% at least once a year. I believe that moment may have finally arrived for DIA.
Trying lower timeframes (1h)
First trade -
enter price -387.78
stop loss -385.42
take profit -392.50
DETAILS: the price is in an uptrend inside a tunnel , I decided to enter at the third candle after the touch at the support line of the tunnel and the touch at the strong support area.
The SL is below the ema 200 , the support line of the tunnel and there...
SPDR® Dow Jones Industrial Avrg ETF Tr (DIA, $381.37) RSI Indicator left the overbought zone on January 31, 2024
This is a signal that DIA's price could be shifting from an uptrend to a downtrend. Traders may consider selling the stock or exploring put options. A.I.dvisor looked back and found 43 similar cases where DIA's RSI Indicator left the overbought zone,...
Rounding top or HS? Not confirmed yet, but doesn't look pretty for the DOW. If it breaks down that trendline we will see a mayor correction. Maybe I'll buy some puts but first I want to see more bearish action. Right now is consolidating and we will see a lot of volatility these days.
I have now moved to 100 % long PUTS in the money 380 puts for june 2024 Look for an event on or about jan 11 to the 18 th if the dow at anytime can reach into 38200 to 38400 I will add 15 % long puts we are now 1.8 % above the dji monthly BB BANDS market panics since 1902 to today have seen drops and beginning BEAR MARKETS from 1.4 to 3.5 % above this point as...
Looking at the Dow Jones Industrial Average vs Russell 2000 I believe we are looking at potential strength from the later. Growth stocks continue to stay buoyant.
DIA tracking the DOW widely in an ETF format on the two hour chart had a 7% rise in the
past month which was widely followed in the investment media. I believe that it was a bull
trap. In the past week price action has been sideways while the Stochastic RSI shows
bearish divergence as does the zero lag MACD. Tradign Volumes has fallen off since
burst of...
Neutral until broken with a trend in that direction.
All 3 triangles, ascending symmetrical or descending, can break up or down.
Price is at the upper line today which is resistance.
Support and resistance levels were made to be broken.
No recommendation/possible W pattern.
The chart posted is that of the DIA this is my top wave count The short squeeze .I see this as wave A up within the bear we should now see a 3 way drop back to 50 to 618 5 of this rally if not a retest near .786 from this we should see wave C up once again just past today peak . Then THE BEAR PHASE should be seen . For my view to change The IWM and RSP ...
Red day(s) that triggered
Red (outside) week that triggered
Red month and red quarter.....
AMEX:DIA 2 down on the quarter and not looking good
Let's see if an 'end-of-day-rally' can bring some light to the darkness the last months of the year
For now..... FTFC DOWN
Price has broken through two wedges to the downside and has also closed below the key 143 level. The momentum indicator is negative. Further downside likely.
We could the return of the DOW. Price is just landing on a strong support zone. Next week we could see a big, fat green candle (engulfing) and heading higher from there. I may buy a few calls on Friday, I want to see if the support holds. BTW I pulled up a 2 weeks chart for better visualization but it reads the same in a weekly chart.
