DIA is the Index to discern the next move

3 Jan 2023

DIA opens the year sitting on the annual pivot but coiling on the weekly and daily. AAPL has broken down longer term, so this suggest downside is more likely. Don't anticipate. Simply participate.

8 Jan 2023

Nota

DIA breakout of the range. Further upside expected against a weekly close below 331.00.

20 Jan 2023

Nota

Not shown on the chart are the annual pivots for 2022 and 23, which dictated the s/r areas of this move. Where we go from here I think depends more on the other indices, which still point to a further decline on the monthly. As well, the Fed has been jawboning this market through a channel as the SPY shows. The day-after reaction to each rate announcement has indicated the direction within the channel for an extension up or down. The next Fed is Feb 1. As well, the last time we had this two day pattern as Jan 18-19 (Sept 13-14 2022) we sold off. Finally, Euro is o/b presently, although it continues to act well. Until stops prove otherwise, rallies should be sold is what this suggests.

1 Feb 2023

Nota

Given that the SPY and QQQ seem to have broken out of their channels, the one thing that is a given for the rest of this week is volatility should reign supreme. The SPY looks good for 10 pts either (or both ways if a channel retest comes - and then holds). Buckle up buttercup.

23 Feb 2023

Nota

I'm back to watching the DIA, as it's been stuck been last year's annual pivot and this year's for quite some time. Multiple weekly inside bars forebode a bigger move on that timeframe. and it's presently breaking down. 329 is the level to watch. A close below would suggest to me a move back into 308-310. In any event, volatility should pick up on a close below 329 this week.