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Trend line.

June 23rd, 2009 Karl Haas

Looking at the mid term chart on the Diamonds you can see that the trend line has been broken. The trend line is a line that you can draw using tops and bottoms of a trend. So when you are looking at the mid term chart on DIA you can see how this trend has broken down and started to break its previous patterns. For several weeks we have made higher highs and higher lows but that trend has since reversed over the last 2 weeks and the trend line has been broken. What does this mean to the investor? Well it means the market is reversing and we could test some support levels. We saw heavy volume on the 200 point sell off yesterday on the Diamond’s and today we are trading flat with a little lighter volume ahead of the Fed tomorrow afternoon.

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