The SPDR Dow Jones Industrial Average ETF (NYSEArca: DIA), the tracking exchange traded fund for the Dow Jones Industrial Average, has started to bounce back after sliding to start 2016 and while the fund’s charts are not perfect, near-term technicals are encouraging.

More aggressive traders who believe in a rebound on the low levels can utilize leveraged ETF options to capture a potential bounce. For instance, the ProShares Ultra Dow30 (NYSEArca: DDM) takes the 2x or 200% daily performance of the Dow, and the ProShares UltraPro Dow30 (NYSEArca: UDOW) takes the 3x or 300% daily performance of the Dow.

Additionally, investors may utilize the mega-cap ETFs to better control a stock portfolio’s market exposure or for short-term tactical plays. While mega-caps may show slower growth, the asset category also come with lower volatility.

DIA weekly chart “is negative, but will shift to positive given a close on Friday above its key weekly moving average of $164.63, but if the close is below its 200-week simple moving average of $158.15, the outcome is negative. The weekly momentum reading ended last week at 31.09 down slightly from 31.44 on Feb. 12,” according to TheStreet.com.

Good news for DIA is also likely to benefit the Guggenheim Dow Jones Industrial Average Dividend ETF (NYSEArca: DJD). DJD, which debuted last year, weighs the 30 Dow stocks by yield, which works because all 30 current members are dividend payers.

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