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Friday, March 1, 2013

Dow Jones Industrial Average Technical Analysis

The Dow Jones Industrial Average ( DJIA ) is possibly forming a broadening triangle.  A broadening triangle has bearish implication and it is usually accompanied by expanding volume. Unfortunately, volume data is not available in my charting software so it is unable to serve as a confirmation.  However, a RSI bearish divergence has clearly formed so it is wise to stay vigilant.