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SPDR Dow Jones Industrial Average ETF Message Board

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  • cjg126718 cjg126718 Feb 1, 2008 7:30 PM Flag

    Can Someone Explain

    Stocks don't go up, or down forever....they wiggle. Check the charts for DIA. The 6 moth daily shows a swing point on 1/22 with huge volume. The stock bounced this day, had a large range in price for the day compared to previous days, and closed with positive momemtum. The next day tested the low of 1/22 and failed. It again had a large price range and closed near the high for that day. This was a clear buy signal.

    I think we're in a counter-trend bounce that will go to about $130, and then resume to the bearish direction.

    Watch the swing points, and volume. They talk to you.

183.07+1.85(+1.02%)2:07 PMEDT