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April 04, 2006
A Bull Flag for the Dow Diamonds (DIA)
Here is the Dow Diamonds (DIA) with the pattern du jour for the large-cap non-tech indices. After a mid March surge to new highs, DIA met resistance around 113 and pulled back over the last two weeks. The pullback looks like a falling flag and it is quite similar to the late Feb/early March pullback. The stock is nearing trendline support and also support from broken resistance around 111. An inverted hammer formed yesterday and a break above 112.5 would be bullish for DIA and the Dow.
Posted by Arthur B. Hill at April 4, 2006 10:43 AM