After the excitement of yesterday (if you want to call it that), it pays to reflect on where things stand with a couple of the major ETFs representing Dow stocks. Try though it might, the DIA actually failed to overcome its resistance line. I’ve tinted all prior attempts, including yesterday.
The same can be said of the Transports IYT, but even moreso, since recent attempts haven’t come nearly as close. The curious thing about this line is that it is anchored to a price gap, which I’ve marked with an arrow.
The insanity will go on until it stops, and not a moment before.