After this morning’s sharp up-gap open, the Dow Diamonds Trust (AMEX: DIA) has since reversed from resistance at 127.00, and is pressing against both Friday’s low at 126.27 and its Jan-Feb support line at 126.35, which if violated should trigger downside acceleration towards 125.70/50 next.





Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.