Weekly chart, 4 wk avg= pink dotted line. Close Friday below 241 would be sign of weakness. Any close below green line (237.47) would be a failed GLB.
$DIA entering Weinstein Stage IV decline? If so, re-test of March lows coming?
I don’t want to scare anyone but the DIA may be entering a Stage IV decline. This is the type of signal that will get me into 100% cash in all of my accounts and saved me from the major declines in 2008 and 2000. Failure of the DIA to hold its 30 week average (solid red line) will be a significant sign of weakness. See weekly chart below. Note declining 30 week average. Friday’s close will be very important to me.
