Friday, May 27, 2011

DIA - Diamonds of Dow Jones Index

Price Action :
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Prices broke $125 support.
Gaped down to $123 lingered for 4 days.
Came up on Memorial Day weekend eve to retest the ex-support at $125.

Battle of bulls & bears begin.
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Bears have the MA, declining volume, Support turn resistance line, downward sloping trend line and Doji candlestick moment of bull indecisiveness, in their favor.

Bulls have the upward turning O/S Stochs on their side.

Looking for more downward bias.

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