DIA Daily Chart – March 30, 2009
I charted DIA at 12:50 pm on Monday, March 30, 2009. DIA is the DIAMONDS Trust Series which is an ETF that tracks the Dow Jones Industrial Average. I posted a DJIA chart on my other blog this weekend and noted that it could have a hard time breaking above 8,000. Today’s price action on DIA added to that belief.
- DIA broke below Williams %R overbought for 14 and 28 day periods which is a strong bearish indicator
- DIA broke below the floor of higher lows of its short term trading channel
- DIA broke below its 10 and 20 day moving averages, another bearish technical indicator
- DIA is holding right now at the lows it held for a couple of days before that same level became resistance for the next week – this level could be very interesting to watch
Overall opinion = Bearish for the short term
I'll take requests for stocks and ETFs to chart too. You can reach me at alex [AT] chart-analysis.com. DISCLAIMER: Charts found on these pages are my opinions and I take no responsibility for any losses you may incur if you agree with my charts. Although I am a Registered Investment Advisor Representative, the content contained on this site is not personal advise. Consult your own financial advisor or do your own research before trading or investing in any of these securities.
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