marketfellow

Head-and-Shoulder Pattern (DIA)

Short
AMEX:DIA   SPDR Dow Jones Industrial Average ETF
- Five months head-and-shoulder pattern is near completion for DIA
- Head was located at 370. Two shoulders were defined with its neckline at 340
- This is a very important moment to watch how Dow Jones behaves on its key level 34000 (DIA 340)
- Falling below 340 will conclude the 12 years-old bull cycle. In addition, the neckline 340 will form a resistance level or the beginning of the bear market.
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