Don't Ignore This Chart!

DOG Breaks Falling Trendline as the Aroon(Up) Surges


Unsurprisingly, the ProShares Short Dow 30 Fund (DOG) moved lower as the market trended higher from September to February. As with November, the ETF is making another reversal attempt as it broke the late August trendline and Aroon(Up) surged above 90. This positive develop remains in force as long as Aroon(Down) remains below 70 and below Aroon(up). Click here too see our predefined Aroon Oscillator scan or our ChartSchool article.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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