Did you take our advice the other day?

Yesterday morning, I wrote:

“Traders may want to consider buying a put on the DIA.  In fact, if you pull up a two-year chart of the Dow, you can see why.  For one, RSI, Money Flow, and Williams’ %R are all overbought, and ready to pivot lower, dragging the Dow with them.  Two, the Dow is struggling at resistance dating back to early 2022.  Failure could send it lower. And three – and this may sound odd—there’s too much calm in the market, according to the Volatility Index.  In fact, at less than 20, the fear-indicating Volatility Index (VIX) is telling us all is calm.”

To see a super simple way to predict market direction, click here.

Since then, the Dow Jones slipped from 33,948 to 33,044.

And if the Dow can’t hold support here, the next stop could be 32,000.


Ian Cooper