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DIA trade ideas

Non-farm payroll coming out tomorrow while market close Chart: SPX daily and 15 mins From tech side of analysis, SPX gave a hammer doji on daily chart, which kinda makes today's trade become very hard. Non-farm payroll and unemployment data will release tomorrow while market close, therefore, I don't think traders will do too much to bet the data and holding positions over weekend. Therefore, with no more important economic data release, SPX will likely move side way with maybe only 10 points range. So, instead of take part in this "hard trade", I prefer to choose easier one. Chart: DIA daily and 15 mins On daily chart, the DIA is still on relatively high level compare the SPY and Qs. and it's keep making lower highs and lower lows in last couple weeks. And recent pull up could not help the DIA break the prior highs, and yesterday gave an insideday pattern on daily chart, with huge extension on 8&21 EMA. Therefore, I will try to short some DIA for day trade. From 15 mins chart, 332ish level was prior 4 hr support level, so, I am expecting some tech buyers possibly will enter here.
AMEX:DIA
by SoundsgoodTFtalks
Short 08/03/23 DIAPrice broke a triangle after going sideways, went below the 100 MA, retested, and is now forming a bearish engulfing candle Asset and Time frame - DIA, Daily-Weekly Entry Price - 327.39 Exit(Stop Loss) -336.79 Exit(Take Profit) - 293.65 Technical Analysis - Price broke a contracting triangle, made a few undecisive doji candles near the 100 MA, then closed below it, now, price action has retested the triangle and is forming a bearish engulfing candle(depending on the close of the candle), the prior daily candle closed below the daily 100MA Good luck to all of us
AMEX:DIAShort
by Avirany
DJIA daily - time for bear pull backDJIA has found support at the BigRed level, just as I analyzed in the last report. It bounced back strongly and nicely and is now close to a resistance area. We will have to wait and see what it does next, but for now, it seems more likely to experience a bear pullback than a bullish pattern. Volume does not confirm the price action, as it hasn't moved above 20 days average volume. Therefore, this move is considered bearish or a fake move. The price bounced from the 200-day MA, which is a bullish sign, but it is still below the rest of the major MAs, which is bearish. The RSI is neutral, and the MACD histogram is ticking a smaller red tick, which could be a bullish sign. The MACD line is trying to cross above the signal line, but both lines are below the zero line, so we still need to wait to determine if it is bullish. Overall: DJIA broke down from a symmetrical triangle and found support, which is a common pattern. Prices tend to test prior support levels before continuing in the direction of the breakout, in this case, the bearish direction. The price is very close to the 20 and 50-day MAs, which will act as resistance. Additionally, there is a trendline from the symmetrical triangle, which will also act as resistance. Therefore, for bulls, they need to gather strength and break through that resistance with significant volume before I can say it is bullish and we could go up. Otherwise, I will see this only as a textbook bear pullback after a pattern break and would call a drop below the BigRed level almost certain in the next two weeks. The sell signal would be flipped to the buy signal only if we cross that resistance area with a strong volume.
AMEX:DIA
by Consistent_Trades
3
Warning, Warning, Warning! Major drop ahead.DJIA has broken below the symmetrical triangle, indicating the end of the bull market. The price has dropped below the 50-day moving average and trend line with no significant support acting at all. This suggests a weak market with no real buyers while sellers are expected to enter soon. Smart traders are exiting the market, while most retail traders will panic and sell along with algorithmic trading systems after the significant support line is breached, aka BigRed. The price is currently below all major moving averages, except for the BigRed. The Relative Strength Index (RSI) is declining significantly, indicating a negative trend. The MACD histogram is also showing a strong downward trend, with the MACD line expected to fall below the zero line in the coming days. Overall: after such a strong drop below a significant support line, it is unlikely for DJIA to recover or rebound. Bears are currently taking control, and the price drop could be rapid. However, it is expected that the price will retest the trend line, as it typically acts as prior support before turning into resistance. The BigRed may act as a support, but it is not guaranteed to be strong support. From a bullish perspective, traders would need to step in and buy today, pushing the price back into the symmetrical triangle. If this occurs, it would indicate a false breakout, and the market could be ready to explode to the upside. However, the probability of this scenario is below 20%.
AMEX:DIAShort
by Consistent_Trades
DJIA fall out of the symmetrical triangle, sell signal confirmedDJIA was in for a long long time in this huge symmetrical triangle and wasn't able to move in any direction. Now it's finally dropped out of it. Will it stay out and have a huge red day, we will see today, on Friday. Volume does confirm price action as it is much bigger on drop day, however, it is still below 20 days average volume. It is below 8 and 20 days MA but still above 50 and 200 days MA which will likely change today. 50 days mMA is DJIA's last support zone before it declared drop to the big red with almost certain. RSI is neutral. MACD ticking lower while the MACD line did cross below the signal line which is very bearish and signals a new trend is forming. Overall: not too many things to say here. 50 days MA will be DJIA's last support line before major drops are triggered. It is less likely support will hold and it is likely we will test Bigred which should provide some support zone. From the bullish perspective only a close above 344 only the daily candles would be bullish and would we would be able to say now it is a confirmed bull market in DJIA. The possibility of that is only 10%.
AMEX:DIAShort
by Consistent_Trades
3