Rebound Impressive—But?

09/17/2008 12:00 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

The heavy early selling Tuesday followed by the strong rally into the close was impressive. But the daily chart of DIA shows no clear evidence that a significant low is in place with first strong resistance at $112 (11,200) and then more importantly at $116 (11,600). Short-term momentum is declining.

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