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DIA – Dow Industrials ETF (Last:350.57)

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Our focus for quite some time has been on a 363.15 rally target (or possibly 364.31, the ‘D’ of a larger pattern dating back to November 2020). Ordinarily I don’t try to correlate targets of different vehicles, but in this case, charts for DIA and QQQ look so toppy that I can only caution against being too confident about a further rally in the Dow to ‘D’. Actually, the current stall has occurred at p2=349.65 of the larger pattern, making it potentially subject to Matt’s Curse. Subscriber Matt Barnes’ theory holds that stalls, when they occur precisely at p2, produce reaction moves down to ‘C’ or lower. Here’s the bigger pattern showing the stall and the 364.31 target.


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