DIA

DIA had a trend-day to the downside. It set up a base break at $113.10 early in the morning. It then consolidated around $112.20, tagged the 20MA (Inverse Holy Grail) before continuing lower. Consolidation then took place for an hour and a half at around $111.65 (which coincides with a 61.8% Fibonacci retracement from the high of July 22 and low of July 15) before breaking lower. Pretty text-book stuff.
Same story with the Q's.Something to keep in mind with these trend days comes from today's post at AfraidtoTrade.com, Corey writes:

"Most trend days begin with two common characteristics:

A low-range day prior (usually a NR7 or a doji pattern)
A (relatively) large opening gap

The last two trend days (the last was the previous Thursday) had slight but not ultra-range contraction, but neither began with a large opening gap. In fact, both were ‘creeping’ trends, which tend to be the most insidious, hidden style of trend days. Lack of an opening gap can lull us into complacency as we fail to recognize the potential for the trend day to unfold. It’s far easier to anticipate a large intrday trend day move if the initial gap occurs (and especially if there’s some sort of major news announcement)."