Dow Reversal?

01/12/2009 10:07 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

chart

The weekly candle chart of the Diamonds Trust (DIA) shows the reversal last week, which is a concern. The momentum has just rebounded to neutral levels, and though it has broken its short-term downtrend, it is well below long-term resistance. Next support to watch is at $83.20, with key resistance at $91.

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