I've just been watching the markets, waiting for an opportunity to trade. DIA has a pretty clear up trend line, which you can see on the hourly chart above. DIA broke that trend line, and is now testing it. DIA also made a lower low when it broke below the horizontal support line.
I don't want to short DIA till it made a lower high. Given the strength of the up trend, DIA could make a new higher high from here. Don't like to go long here either after this lower low.
Howard Milano
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