What Is The Stock Market Doing Today – DIA

tastyworks

 

 

 

ETF NAME – SPDR DOW JONES INDUSTRIAL AVERAGE ETF

TICKER – DIA

MY OPINION (JUST MY THOUGHTS, NOT ADVICE) – WILL BE GOING DOWN

STRATEGY USED – SELL A VERTICAL CALL

My Thoughts On DIA

I’m bearish on the market in general right now, and I think that DIA is due for a pullback. I wouldn’t be buying here.

Bollinger Bands

You can see the DIA chart below shows that DIA is falling away from the upper Bollinger Band. It seems like it wants to return to the center.

what is the stock market doing today

RSI

The chart above shows that DIA hasn’t reached and overbought condition, but doesn’t look like it is headed there any time soon either.

Fibonacci Pivot Points

what is the stock market doing today

The DIA has pierced below R2 at 253.75, and is right now just sitting on it. This resistance level is only good for 1 more trading day, and I don’t like opening any new trades this late in the month. That’s just my opinion though. If you have another one, feel free to leave it in the comments below.

MACD

Look below, and you will see that the MACD is still bullish for now. It is slowly drifting upward.

what is the stock market doing today

STOCHASTIC

The STOCHASTIC, on the other hand, has crossed over, giving a sell signal. Stochastic is usually an early indicator, but not a very reliable one.

Conclusion

If anything, I would sell a call spread. Currently, I have no position.

 

stock chart

James

I live in Pittsburgh PA with my family. I am 50% WWE Wrestlemaniac, 50% Walt Disney World nut.

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