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SPDR DOW JONES INDUSTRIAL AVG ETF TSPDR DOW JONES INDUSTRIAL AVG ETF TSPDR DOW JONES INDUSTRIAL AVG ETF T

SPDR DOW JONES INDUSTRIAL AVG ETF T

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DIA trade ideas

Watching TWO Levels on DIA - 177.5, 164.5DIA (SPDR Dow Jones Industrial Average ETF Trust) is falling close to the previous sideway consolidation (Aug 2015 - Feb 2016). Watching TWO Levels on DIA: - 177.5 (Where DJI started its long bull market from Nov 2016) - 164.5 (Above the legs of the previous sideway consolidation & 2.618 of the Fib Cicle) These levels show some reset for the market and should show some support. Go LONG on that. There could be a big rally before the US Election 2020.
AMEX:DIA
by chchart
DIA - support channels!DIA has given up 78% of the move from the December 26, 2018 low to the top two weeks ago. The move has been swift and panicky despite the markets acting orderly. Downside volume v upside volume is at extreme levels along with breadth. Stocks hitting new 52 week lows are also at extremes. There is arguably a final channel that coincides with the downside impulse leg FIB level that I have marked and the 2015-2016 lows at around 227. It would make some sense that the market might turn there from a very very oversold condition. That would be if things were sensical. We are flying blind but the types of moves we are having and the volume of trading may soon lead to a tradeable bottom. The movements are extreme and I would expect that any snapback may look very similar. The Biden bounce was a trap and the selling over the last 3 days has been punishing. Stay alert and build good watch lists. When it turns it will be swift and catch a lot of people leaning the wrong way.
AMEX:DIA
by BobbySpa
DIA = 50% retraceMarket up 1293 on Monday, down 783 yesterday, and up 1173 today. Net positive 1700 points or so for the week after being down 5000 points the prior week or so. Looks like it can carry a little further but I expect it to hit channel resistance and get turned away. Biden was certainly a positive today but not sure what this means in context of virus. Market has a way of shaking weak hands out but not sure there will be enough strong hands to hold going forward. Still looking for a retest of the lows.
AMEX:DIA
by BobbySpa