DIA is approaching toward an overbought zone 347/355DIA is approaching toward an overbought zone between 347 and 355 based on the momentum readings. Given the strong move that has build up during the recent weeks, There is no evidence of bearish trend that put us near the low of 300 one more time over the next six months. Basically as long as price trades above 339, ongoing bullish sentiment continues. Despite the strong momentum, it would be hard for DIA to set a sustainable rally above 363 by the end of this year.
DIA trade ideas
Question Everything Like Once, Even Twice Maybe?Granted. There is a pattern here. A popular bottom pattern called an Inverse H&S (head and shoulders)
OBV is low and flat. Just a bit odd. (google OBV if you are not familiar with On Balance Volume)
Targets to the upside are in white type.
Who knew when the outlook was a bit bleak for this country's economy that we would have such a cool rally up?
Not me.
But we did.
I mean the FBI has raided our last president's home when they knew he was not home over a year after he was president. Kinda makes you scratch your head and think WOW!
It is almost like there is No Telling what will happen next!
Unsettling for many including me.
In reality we do not know what is going on? But you know, how many of us live in reality?
So now I go from here. This is where we are. We live in the present to be healthy and the market does not always live in the same time zone that we live in.
Will the economy burn the market? Seems like it would but time will tell.
No recommendation
Do not drink and drive.
Do not drink and trade (o:
A bullish scenario for DIATake profit level: $333.
DIA is extremely liquid, with huge assets and a long track record. The fund's UIT structure is shared by a few other long-lived ETFs (like SPY), with the most notable effects being a slight cash drag since stock dividends received in between the ETF's distributions can't be reinvested as is typically the case.
NYSE - SwingTrading: updated WatchlistS tock Market reversed lower after key test, partially fueled by more worries about the economy
Apple (AAPL) plans to slow hiring and spending in some divisions next year which concerned traders yesterday.
Monday's weak session was another reminder that many sellers and lots of overhead supply is still putting pressure on the markets.
What should Swing Traders do now?
Sitting in a healthy cash position with limited exposure to individual stocks makes the most sense at this point. When institutional money starts coming in again, that's when you'll see breakouts of stockos on our watchlist really working and following-through. Until then, sitting mainly in cash with only few pilot positions in your portfolio is strongly advised.
Continue to do your homework and be ready when the next bull market starts - which will definitiely happen sooner or later.
Here is the link to our updated watchlist:
www.tradingview.com
All stocks on our watchlist fulfill Minervini's Trend-Template criteria and are selected using IBD's CAN SLIM criteria. Also, they all have low risk entry points. Only the best stocks make it onto our watchlists.
Some Sort of a Low (DIA...'The Dow')DIA has been the ‘tell’ so far in 2022. Recall that 295 was marked as a big number and Friday’s low was 296.39. Close enough! Friday’s low was right on the channel line and a hair above the 200 week average (thick red line). After today’s strong action, my view is that the long side is viable until further notice.
-Jamie Saettele
DIA Historical CorrectionsThis is a macro perspective on the cycles of DIA.
I want to focus on all time highs and the corrections that come after.
Currently DIA is sitting at about a 19% decrease from all time high value.
As the chart suggests, this market could drop even further. Don't be surprised if it does. These things happen.
Where Are the Support Levels (DIA) ?This is our follow-up article after April's notes on breaking-down, breaking apart on DIA
1. The bear market started as early as breaking down on the key neckline
2. It is still at an early stage of the bear cycle.
3. The following support levels will be 262 and 183.
4. Please note that when DIA drops from 360 to 180 it means -50% down. There could be more spaces to go down below 180 level to unwind the 13 years bull cycle. But, 262 and 183 should offer entry points for a short-term rebound.
DIADIA closed at 314.37. DIA's structure during the drop last week is the worst of any large index. DIA is likely to slow down this week as well. If DIA can bounce near this range 314-306, we can see DIA also form a double bottom. However, DIA is likely to have the slowest and poorest price action this week. I would avoid any swings or daytrades on DIA for now. Price action should be better and easier to capture on other indicies this week.
Where are we DIA?Where are we DIA? Here's a Mega Triangular Trend Channel MTTC2.0 (beta) set to 200SMA with 19 levels. And my tickerTracker MFI Oscillator set to 20 with SPY, VTI, QQQ, IWM & DIA.
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
FOMO : bad timing, the market is ruthless, be shrewd
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
tickerTracker - MFI Oscillator
www.tradingview.com
DIADIA closed at 329.35. DIA looks the healthiest of the indicies, but it's still riding up the pitchfork trendline resistance. It's likely that DIA breaking out could signal a move up before other indicies. DIA analysis from last week still holds going into this next week. DIA has some more room to ~340, but likely can be a bit slower even if it does breakout.