Here is the SPDR DJIA ETF (DIA) and this looks just the same as my charts on the S&P500 Index (^GSPC). The Primary Indicator is well below the lower green line but the Secondary Indicator has made no crosses of the zero line negative to positive. Until the Secondary Indicator crosses the zero twice don’t think of going long. What normally happens is the price will retrace, everyone breathes a sigh of relief, gets back into the market and then the second (and sometimes more) down leg hits.
On the weekly charts, the DJIA is the weakest of the indices, even after today’s run up. It still looks strong on the monthly charts.
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