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DIA

DIA a market melting..... up?!This is a great example of a market that is melting.... up. Every day for the past week and a half we have seen a market that opens speculatively higher and closes lower than the open. If you are looking at markets in general that are healthy you will see that most green candles support an upwards trend while most red candles support a downward trend. This is very different and cause for concern that there is a large inflationary bubble in the market right now waiting for a moment of sell off. To be completely honest we are short DIA with contracts expiring June 18th and 25th from the "Out of the Market" phrase large red candle on the chart. This open higher and close lower continually has to stop one way or another.
AMEX:DIAShort
by swimmax
2
May Day for the DIAMy count has Wave E down on deck for DIA/DJI. In the current wave pattern the wave i up (of Wave D) was so short/quick, thus prediction is that wave v (of Wave D) will also terminate quickly and I think it did today. Stoch RSI appears to be confirming and the Woodies CCI popped a +200 today indicating a possible turn. I had originally thought this might be a simpler ABC down but see chart for couple of prior corrective wave patterns for comparison. The Wave C in the current pattern is too short for an ABC down IMO, thus Wave E is in play. Only question is will it happen tomorrow on the last trading day in May. Will it truly be a sell in May and go play? Somehow I think they will keep this thing afloat until next week. Enjoy the Holiday on Monday if you are in the states. Not financial advice.
TVC:DJIShort
by Akksujean
QE, Buy-Backs, BTFD, and Fed Rhetoric Save MarketsHey guys, I hope everyone had a nice relaxing weekend. After a freakish drift higher on the US majors yesterday toward the ATH's, and off the back of a week straight of buy-backs, QE, and dip buying, the SPY is back at the lower band of the ascending green channel (resistance) around 420. Of course, we can't not mention the FED members parading around every day, spreading more transitory-inflation rhetoric to boost sentiment and cool yields. On SPY, we recently saw 2 tests of the 50DMA, first on May 12th, and then again on May 19th. But, we saw strong support, just as we have in the recent past. I expect a rejection at this level, similar to the rejection we saw on May 14th at outside channel resistance. We have initial downside to the 21EMA at 414.25, and then, of course, a retest of the 50DMA is likely this week around 408.50. On the Nasdaq (QQQ), we're sitting at 334 pre market as of 9AM, and likely to retest the high from Feb 16th around 338 before getting a rejection. The momentum is to the upside as the 21EMA, 50DMA, and 100DMA has been recaptured. The Russell (IWM) is sitting just at the 21EMA around 221, with the 50DMA just above us at 222.34, and the 100DMA just below around 219, and the Dow (DIA) is sitting at the top of it's recent range, and within a couple percentage points of the ATH. Gold has been levitating just above the 200DMA after the recent dollar puke, and spike in bonds, while Bitcoin (BTCUSD) recovered slightly to a 37k handle after the insane 54% crash that we all knew was coming. WTI (USOIL) is sitting around 66 and showing resilience as FED burns the dollar back to an 89 handle. The Vix is sitting at 18.2 after retesting the descending trendline we broke through on May 11th. We hit a low of 16.9 this morning around 7AM, but are poised to recapture the white ascending trendline around 18.6, with 18.8 resistance back in play. Finally, the US10Y yield is being sold off as the FED down plays inflation as transitory, and although the cup and handle formation is still potentially going to materialize, based on previous tests of long term resistance, it may be several weeks before we see a breakout. I just want to say thanks again for everyone's patience last week as I took some time off, it was a rough week. My cat Franco was in and out of the vet, and had his final surgery which went well, thankfully. Then my dog Pompey died. When it rains it pours I guess, but he was 18 years old, and had a great life, so I'm finally smiling now when I think of him instead of crying. Time to get back on track. :) Our live analysis begins at 9:30AM. Cheers, Michael.
AMEX:SPYShort
by Hedge_Of_The_World
9
DIA / USDSeems like a pennant forming with DIA against the USD, I'm taking a punt on this set up for sure. Stop loss set up in the case that there is a breakout to the downside, which I hope there is not. There seems to be support on the daily excluding the wicks so I'm assuming (hoping) it continues to hold. DIA is basically a less-known oracle, similar to #Chainlink, with a much smaller marketcap! Oracles will be big business in the future in my mind... I will take profits around the $7.60 area, possible 100% of the bag that I am now holding. Trade safe homies, never with debt and only what you can afford to lose! Alfa
by Free_Alfalfa
Global Futures Extend Losses, CPI ExplodesTaiwan's Stock Exchange Index just saw it's biggest market crash in 54 years according to ZeroHedge, falling 9%. Needless to say margin levels are at historic high's, so the bleeding has only now begun as potentially ugly margin calls commence. US CPI data came in (extremely) hot moments ago. We saw a rise of 4.2% YoY after CPI rose by 0.8% in April vs the 0.2% expected. This was the biggest YoY jump since September 2008, and the biggest MoM jump since June 2008. Core CPI rose 3% YoY, with a MoM rise of 0.92%, the largest MoM rise since 1981. Transitory though, right Powell? What a crock of shit. The US10Y yield is approaching 1.65%, and we're possibly looking at a cup and handle, with a vicious breakout soon, sending stocks spiraling at the worst possible time. We saw the dollar rally hard (0.30%) to 90.41, catching support at the February low around 90. The Vix hit an HOD of 23.9 moments ago, before cooling back to 23 as of 9AM. We've clearly broken out of the descending trendline formed from the March top, putting our target of 30 in play this week. A retest of the 21 support level is possible, but unlikely given this morning's negative sentiment after the ugly CPI print. QQQ is set to open below the 100DMA which was recaptured yesterday before we saw a rejection at the 50DMA. SPY is set to open at the red line support around 411, with the 50DMA potentially coming into play as early as today at 403.62. IWM is also poised to open below the 100DMA, which was recaptured yesterday before the close, bringing the March 25th low around 208 into play. The 200DMA is sitting all the way down at 190, so hold on to your hats if we see an ugly open like we did yesterday. Growth in particular is going to suffer today, with value likely seeing a BTFD parade. Later on around 10:30AM we'll see Crude Inventories, then around 2PM we'll see the latest Treasury Budget balance. * I am/ we are currently holding positions in UVXY, HUV.
AMEX:SPYShort
by Hedge_Of_The_World
17
CPI will exceed 0.3% today look for a very cautious marketThe US is forecasting a 0.3% monthly CPI today, we think it will be closer to 1% for the month, given the cost of goods has dramatically increased in the US and just now being priced into the market. Look for a return in the near term to the 50MA (332) and also the 1.27 fib at 326. A cooling the market needs to happen as companies continue to announce record profits based on a larger pool of money in the system. Note: we hold shorts from 348-9 in this asset.
AMEX:DIAShort
by swimmax
1
Great buy opportunity in DIA🚀Hello guys As we can see price is currently in Broadening Wedge pattern and now it trying to Pullback. - Entry: (for long-term) 1- $4 2- $3 Exit: $8 or more as it is fundamentally strong project🔥 If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! . . . . . . . . . . . . . . And do follow me on Twitter for EXCLUSIVE Market updates: @mywealthstory Your Support is very much 🙏 appreciated! Happy Trading
Long
by mywealthstory
1