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Negative Technical Signal Short-term for Dow


Here is the near-term pattern carved out by the Dow Diamonds Trust (DIA) ETF, which shows yesterday's fleeting, marginal new all-time high at 127.06, followed by a declined that has sliced through initial support at 126.35/25. Today's weakness following yesterday's inability to sustain new highs is a negative technical signal -- albeit a very short-term oriented one. Nonetheless, let's see what the bulls bring to the table now -- if they can reverse this weakness and attempt another new high or if they appear to be at or near exhaustion.
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