Yes, that would indicate a failed to me as well. It failed open circuit. And by the way, for educational purposes... With the new digital meters, it's pretty much impossible to check diodes integrity using the resistance scale. It needs to be on the diode check setting. If you happen to have an old ANALOG meter with a needle sweep, you can often check diodes with the resistance scale. But analog meters, like the dinosaur, are either extinct, or headed that way. So what SHOULD you have seen? Using the diode check setting, you should have seen "OL" in one direction, and some small voltage in the other direction. Something like 0.50 to 0.80 Volts.