What Does The Market Say?

According to Goldman Sachs, link here, they’re calling for continued upside.

Anything can happen.

For those on this site, the focus is not on what anybody’s saying, but what’s the market actually doing?

We’ll use the Dow 30 proxy DIA, for this update.

Dow 30 ETF, DIA, Daily

Repeating pattern: Spring-to-Up-Thrust, link here.

The Dow has been struggling each time it gets to this resistance area, since December of last year.

Friday was a gap-higher at the open, then retrace, closing below resistance (upper blue line).

From a risk on a short position, it’s clear. The stop would be last Friday’s high.

Currently short as DIA-25-03, with stop just above DIA 452.05 (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279