DIA - Starting RS of Inverse H&S?
Updated
If AAPL's topping formation (see my AAPL analysis) is any indication, and the Dow's 5300 point move off the October lows is any indication, the right shoulder of the inverse H&S formation should start to get filled as AAPL completes it own right shoulder with a move down. Again, similar to AAPL, the left shoulder, head and right shoulder if formed would line up in time and price. We have what could be a false breakout of the descending trend line on declining volume and RSI within an ascending triangle as a result of the prior two CPI reports. Market needs to correct if any meaningful advance is to occur. Any continued up move is delaying the inevitable. I think that we are close. Happy Trading!
Note
DIA is finally starting to fill this bucket. Back to trend line support which was the false breakout of the downtrend in place since January. Fell thru its 20 day line and sitting right above the 50. AAPL's move down will bring DIA thru the 50 and likely to its 200 day next week.
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