DXD Ultra Short Dow 30 Weekly Chart Oversold Falling Wedge

DXD ultra short Dow 30 weekly chart moves opposite to the Dow Industrials. The oversold conditions and falling wedge hints at a bounce coming, which occurred, but, typically the most important part of the equation is to see postitive divergence. The MACD and histogram obliged in this respect but the other three indicators did not. The stochastics were agreeable to see the bounce since they were as low as they could go as far as oversold goes, but upon closer inspection, you can see the ever so slightly lower tick with the stochastics a month ago (red circle).

The uncooperation concerning positive divergence is further evidenced by the RSI and money flow that clearly show lower lows in the November to February period (red circles). Thus, even though DXD bounced, the chart wants to see price come back down again to the previous low in February so the indicators can line up WITH positive divergence across the board and verify that all systems are go to the upside. Perhaps the DXD daily chart can shed further light on the situation. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.